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- W2373478289 abstract "In the process of sterilization operation of central bank bills,the higher costs have been considered by many scholars at home and abroad as an important reason for the non-appropriateness of central bank bills taken as long-term sterilization instruments.The evidence from the data of China from 2004 to 2009 shows that,without the consideration of exchange rates,sterilization operation of 3-month or 1-year central bank bills makes profits;with the consideration of exchange rates,financial costs derived from the sterilization operation of central bank bills makes profits or losses.Exchange rates have important effects on financial costs derived from the sterilization operation of central bank bills.With the consideration of exchange rates,as a whole,sterilization operation makes losses,but the losses are limited,so we can not challenge the sustainability of sterilization operation of central bank bills from the cost angle." @default.
- W2373478289 created "2016-06-24" @default.
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- W2373478289 date "2011-01-01" @default.
- W2373478289 modified "2023-09-27" @default.
- W2373478289 title "Exchange Rate Fluctuations,Central Bank Bills and Sterilization Costs: from 2004 to 2009" @default.
- W2373478289 hasPublicationYear "2011" @default.
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