About: Direct operations

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Direct operations is the term for when a central bank purchases bonds directly from its government. Direct operations work as follows: Governments typically sell bonds when their expenditures exceed revenue from taxes (this is known as a budget deficit). This issuance of bonds occurs is termed the primary market, and the value of the outstanding bonds constitutes a national debt.

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rdfs:label	Direct operations (en)
rdfs:comment	Direct operations is the term for when a central bank purchases bonds directly from its government. Direct operations work as follows: Governments typically sell bonds when their expenditures exceed revenue from taxes (this is known as a budget deficit). This issuance of bonds occurs is termed the primary market, and the value of the outstanding bonds constitutes a national debt. (en)
dcterms:subject	Government bonds
Wikipage page ID	16455076 (xsd:integer)
Wikipage revision ID	584190011 (xsd:integer)
Link from a Wikipage to another Wikipage	Government Government bonds Central bank Bond (finance) National debt Outstanding bonds
sameAs	Direct operations Direct operations Direct operations Direct operations
dbp:wikiPageUsesTemplate	dbt:Unreferenced
has abstract	Direct operations is the term for when a central bank purchases bonds directly from its government. Direct operations work as follows: Governments typically sell bonds when their expenditures exceed revenue from taxes (this is known as a budget deficit). This issuance of bonds occurs is termed the primary market, and the value of the outstanding bonds constitutes a national debt. Paying interest on outstanding bonds means tax rates will be higher, but national debts have an advantage: they can be extremely useful for conducting monetary policy. When a central bank would like to increase the money supply, it can merely purchase previously-issued bonds. When it would like to contract the money supply, it can sell them. This is known as the secondary market, but for this to work, the bonds, of course, have to have been issued previously in the primary market. But if a country does not have a significant national debt, direct operations are called for. Essentially, the government prints and sells bonds to the central bank on an ad hoc basis; the central bank in turns issues currency to pay for them. Essentially the government is provided with cash to meet its needs, although it has created a corresponding liability. (en)
gold:hypernym	Term
prov:wasDerivedFrom	wikipedia-en:Direct_operations?oldid=584190011&ns=0
page length (characters) of wiki page	1388 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Direct_operations
is Link from a Wikipage to another Wikipage of	Monetary policy
is foaf:primaryTopic of	wikipedia-en:Direct_operations

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