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The Economics of Liquidity Lines Between Central Banks

Author

Listed:
  • Saleem Bahaj

    (Department of Economics and School of Management, University College London, London, United Kingdom)

  • Ricardo Reis

    (Department of Economics, London School of Economics and Political Science, London, United Kingdom)

Abstract
Liquidity lines between central banks are a key part of the international financial safety net. In this review article, we lay out some of the economic questions that they pose. Research has provided answers to some of these questions, but many more require further research.

Suggested Citation

  • Saleem Bahaj & Ricardo Reis, 2022. "The Economics of Liquidity Lines Between Central Banks," Annual Review of Financial Economics, Annual Reviews, vol. 14(1), pages 57-74, November.
    • Handle: RePEc:anr:refeco:v:14:y:2022:p:57-74
    DOI: 10.1146/annurev-financial-111620-022146
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    References listed on IDEAS

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    Cited by:

    1. Yu, Ziliang & Liu, Xiaomeng & Liu, Zhuqing & Li, Yang, 2023. "Central bank swap arrangements and exchange rate volatility: Evidence from China," Emerging Markets Review, Elsevier, vol. 56(C).
    2. Willem H Buiter, 2023. "The widespread failure of central banks to control inflation," Economic Affairs, Wiley Blackwell, vol. 43(1), pages 2-31, February.

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    More about this item

    Keywords

    EUREP; Eurosystem Repo Facility for Central Banks; FIMA; financial stability; Foreign and International Monetary Authorities; international currency; lender of last resort; swap lines;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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