01703cas a2200241 a 4500 AALejournalIMF008340 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451874617 1018-5941 BD-DhAAL BD-DhAAL Yossifov, Plamen. The Use of Credit Ceilings in the Presence of Indirect Monetary Instruments : An Analytical Framework / Plamen Yossifov. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (16 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 In this paper, we introduce credit ceilings in the standard model of the money multiplier and analyze their role in central bank's management of money supply in the presence of indirect monetary instruments. We show that under a regime of total credit ceilings, their optimal value equals the desired growth rate of the adjusted monetary base. Under a regime of partial credit ceilings, their optimal value depends on the desired growth rate of the adjusted monetary base, the degree of substitutability between the regulated and unregulated types of banks' earning assets, and the autonomous growth rate of the latter. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2002/206 Full text available on IMF http://elibrary.imf.org/view/journals/001/2002/206/001.2002.issue-206-en.xml IMF e-Library