The use of reserve requirements as a policy instrument in Latin America
AbstractIn recent years, some central banks in Latin America and other emerging market regions have used reserve requirements to pursue monetary or financial stability goals. In the past decade, they have raised reserve requirements in the expansion phase of the cycle to tighten monetary conditions without attracting capital inflows. After the bankruptcy of Lehman Brothers, they lowered them sharply, helping to restore market functioning. In some cases, the use of reserve requirements can complement the policy rate in the conduct of monetary policy. However, there are trade-offs in the use of this instrument.
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Bibliographic InfoArticle provided by Bank for International Settlements in its journal BIS Quarterly Review.
Volume (Year): (2011)
Issue (Month): (March)
Find related papers by JEL classification:
- E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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