Reserve Requirements in the Brave New Macroprudential World:
Using a new, large data set on quarterly reserve requirements for the period 1970-2011, this paper provides new evidence on the use of reserve requirements as a countercyclical macroprudential tool in developing countries. The appeal of reserve requirements lies in the pro-cyclical behavior of the e...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2014
|
| Online-Zugang: | Volltext |
| Zusammenfassung: | Using a new, large data set on quarterly reserve requirements for the period 1970-2011, this paper provides new evidence on the use of reserve requirements as a countercyclical macroprudential tool in developing countries. The appeal of reserve requirements lies in the pro-cyclical behavior of the exchange rate over the business cycle in developing countries. This enormously complicates the use of interest rates as a countercyclical instrument (because of its effect on the exchange rate) and calls for a second instrument. The paper suggests that conflicts may arise between the microprudential and macroprudential policy stances |
| Beschreibung: | 1 Online-Ressource (48 p) |
| DOI: | 10.1596/1813-9450-6793 |
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| 520 | |a Using a new, large data set on quarterly reserve requirements for the period 1970-2011, this paper provides new evidence on the use of reserve requirements as a countercyclical macroprudential tool in developing countries. The appeal of reserve requirements lies in the pro-cyclical behavior of the exchange rate over the business cycle in developing countries. This enormously complicates the use of interest rates as a countercyclical instrument (because of its effect on the exchange rate) and calls for a second instrument. The paper suggests that conflicts may arise between the microprudential and macroprudential policy stances | ||
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| index_date | 2024-07-03T19:59:54Z |
| indexdate | 2024-10-12T04:01:20Z |
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| spellingShingle | Cordella, Tito Reserve Requirements in the Brave New Macroprudential World |
| title | Reserve Requirements in the Brave New Macroprudential World |
| title_auth | Reserve Requirements in the Brave New Macroprudential World |
| title_exact_search | Reserve Requirements in the Brave New Macroprudential World |
| title_exact_search_txtP | Reserve Requirements in the Brave New Macroprudential World |
| title_full | Reserve Requirements in the Brave New Macroprudential World Cordella, Tito |
| title_fullStr | Reserve Requirements in the Brave New Macroprudential World Cordella, Tito |
| title_full_unstemmed | Reserve Requirements in the Brave New Macroprudential World Cordella, Tito |
| title_short | Reserve Requirements in the Brave New Macroprudential World |
| title_sort | reserve requirements in the brave new macroprudential world |
| url | https://doi.org/10.1596/1813-9450-6793 |
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