01875cas a2200241 a 4500 AALejournalIMF013806 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484336038 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Middle East and Central Asia Dept. United Arab Emirates : Selected Issues. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (57 pages) IMF Staff Country Reports <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 Selected Issues paper on the United Arab Emirates highlights the macroprudential policies. The fixed exchange rate and persistent structural liquidity surpluses in upswings add to the difficulties in managing aggregate demand contain credit expansion. The exchange rate peg and the open capital account allow limited room to deviate from the U.S. interest rates. Monetary policy is further constrained by limited liquidity management capabilities, as liquidity forecasting is in its infancy, and central banks liquidity management relies primarily on reserve requirements and standing facilities for liquidity absorption. The lack of a local currency fixed-income market raises the prominence of real estate as an asset class for investment and the exposure of the banking system to the real estate sector. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2013/240 Full text available on IMF http://elibrary.imf.org/view/journals/002/2013/240/002.2013.issue-240-en.xml IMF e-Library