Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/75735
Authors: 
Sims, Christopher A.
Year of Publication: 
2001
Series/Report no.: 
CESifo Working Paper 547
Abstract: 
Most macroeconomic models treat the central bank and the trea-sury as a unified entity. The balance sheet of the central bank is therefore implicitly treated as an accounting fiction. While this is often realistic, the central bank balance sheet has implications for central bank independence. There are wide differences in the nature of central bank balance sheets today, with the US and ESCB balance sheets nearly at the extremes. The reasons for and implications of these differences are studied here.
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.