As a spill-over from abroad, central bank balance sheets in some emerging market economies also bloated. The era of bloated central bank balance sheets seems to be a component of the “new normal ...

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation This paper offers a comprehensive analysis of the implications for financial stability of a central bank issuing a digital ...

It finds that when the Federal Reserve expanded its balance sheet via large-scale asset purchases (quantitative easing) in recent years, there is an increase in commercial bank deposits with a ...