01728cas a2200241 a 4500 AALejournalIMF001699 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451856897 1018-5941 BD-DhAAL BD-DhAAL Schaechter, Andrea. Implementation of Monetary Policy and the Central Bank's Balance Sheet / Andrea Schaechter. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper discusses how the choice of central banks' operating targets influences the use of their monetary policy instruments and how the latter affect the central bank's balance sheet. This is of particular interest, since the monetary conditionality in IMF-supported programs has traditionally been linked to central bank balance sheet items. Quantity targeting tends to be practiced today mostly in countries in which money markets are not yet well-developed or a monetary aggregate is used as the intermediate target. Most other central banks prefer to target a short-term interest rate, which results in day-to-day changes in balance sheet items becoming endogenous. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2001/149 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/149/001.2001.issue-149-en.xml IMF e-Library