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Multiple Reserve Requirements

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Author Info
Espinosa-Vega, Marco A

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Abstract

This paper investigates the consequences of government imposition of multiple reserve requirements on commercial banks. In particular, it examines a situation in which banks are required to hold some fraction of their customer's deposits in the form of domestic currency and another fraction in the form of interest bearing government bonds. Proponents of such requirements claim that for a given deficit, a multiple reserve scheme leads to a lower rate of inflation than would occur under a single reserve regime. I construct a model which provides a framework for analyzing this view. The analysis does not focus exclusively on the inflationary effect of alternative reserve regimes. The model also allows for welfare analysis. Copyright 1995 by Ohio State University Press.

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File URL: http://links.jstor.org/sici?sici=0022-2879%28199508%2927%3A3%3C762%3AMRR%3E2.0.CO%3B2-%23&origin=bc
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Publisher Info
Article provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.

Volume (Year): 27 (1995)
Issue (Month): 3 (August)
Pages: 762-76
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:mcb:jmoncb:v:27:y:1995:i:3:p:762-76

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879

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  1. Marco Espinosa & Steven Russell, 1996. "The Mexican economic crisis: alternative views," Economic Review, Federal Reserve Bank of Atlanta, issue Jan, pages 21-44. [Downloadable!]
  2. Marco Espinosa-Vega & Steven Russell, 1999. "A public finance analysis of multiple reserve requirements," Working Paper 99-19, Federal Reserve Bank of Atlanta. [Downloadable!]
    Other versions:
  3. Bas Aarle & Nina Budina, 1997. "Financial repression, money growth, and seignorage: The Polish experience," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 133(4), pages 683-707, December. [Downloadable!] (restricted)
  4. Marco Espinosa-Vega & Bruce D. Smith & Chong K. Yip, 1998. "On government credit programs," Working Paper 98-2, Federal Reserve Bank of Atlanta. [Downloadable!]
    Other versions:
  5. Rangan Gupta, 2004. "Costly State Monitoring and Reserve Requirements," Working papers 2004-33, University of Connecticut, Department of Economics, revised Jul 2005. [Downloadable!]
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This page was last updated on 2009-12-8.

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