Central banks adapt to new challenges (notice n° 697659)
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| fixed length control field | 02128cam a2200217 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250121212313.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Carstens, Agustín |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Central banks adapt to new challenges |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2022.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 75 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | The Covid-19 pandemic has put the spotlight on the key role of central banks in crisis management. Central banks have again demonstrated their ability to deal with systemic events by adapting their response. Central banks in advanced and emerging economies implemented an unprecedented set of measures, going far beyond those adopted during the financial crisis. These measures were aimed not only at stabilizing financial markets, but also at channeling credit directly to businesses and households. The difficulties and challenges are many and range from the emergence of new financial markets to better coordination of fiscal and monetary policies. There is a consensus that self-insurance through the accumulation of foreign exchange reserves is not optimal. Similarly, there is little that countries can do to limit risk through protective measures in managing capital flows without forgoing the benefits of participation in the global financial system. In the absence of a comprehensive and well-funded global safety net, liquidity safeguards under the aegis of the central bank issuing the international currency will remain the primary protection (Carstens, 2021b). The best way to reduce the tension between fiscal and monetary policies is to increase sustainable growth. Achieving higher growth requires structural reforms, supported by growth-friendly fiscal policies. The independence of central banks is essential so that they can continue to focus on their core mandate of maintaining price and financial stability. |
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| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
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| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
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| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | E60 |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Revue d'économie financière | 144 | 4 | 2022-03-15 | p. 27-39 | 0987-3368 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-revue-d-economie-financiere-2021-4-page-27?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-revue-d-economie-financiere-2021-4-page-27?lang=en&redirect-ssocas=7080</a> |
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