Citation

Discussion Paper Details

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Title: Public Liquidity Demand and Central Bank Independence

Author(s): Jean Barthelemy, Eric Mengus and Guillaume Plantin

Publication Date: November 2019

Keyword(s):

Programme Area(s): Monetary Economics and Fluctuations

Abstract: This paper studies how private demand for public liquidity affects the independence of a central bank vis-a-vis the fiscal authority. Whereas supplying liquidity to the private sector creates degrees of freedom for fiscal and monetary authorities vis-a-vis each other, we show that the authority that is most able to attract private liquidity demand can ultimately impose its views to the other.

For full details and related downloads, please visit: https://cepr.org/active/publications/discussion_papers/dp.php?dpno=14160

Bibliographic Reference

Barthelemy, J, Mengus, E and Plantin, G. 2019. 'Public Liquidity Demand and Central Bank Independence'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=14160