The fiscal footprint of macroprudential policy
Monetary policies leave a fiscal footprint. When the central bank cuts the policy interest rate, this footprint comes through multiple channels: The demand for currency rises, so the central bank prints more banknotes to accommodate it, and this creates seignorage revenues. Inflation unexpectedly r...
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| Main Author: | |
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| Format: | Artículo |
| Language: | English |
| Published: |
Banco Central de Chile
2021
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| Subjects: | |
| Online Access: | https://hdl.handle.net/20.500.12580/6139 |
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