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Comportamento Diário Do Mercado Brasileiro De Reservas Bancárias - Nível E Volatilidade - Implicações Na Política Monetária

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Author Info
Mardilson Fernandes Queiroz
Abstract

This works studies evidences banks' daily behavior pattern of managing reserves, analyses the rationality behind such observed behavior and its main influencing factors. This study contributes to the existent literature in two fronts: proposing a methodology for analyzing bank reserves' daily behavior pattern in two dimensions: level and volatility, which permits the verification of endogenous and exogenous influencing factors over the management of bank reserves; showing that the difference found between Brazilian banks' behavior and US banks' behavior described in the literature is rational given the Brazilian regulatory framework and market conditions. The author, facing the obtained results, proposes monetary policy implications, specifically in what concerns Brazilians' actual reserve requirements structure.

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Paper provided by ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics] in its series Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32th Brazilian Economics Meeting] with number 096.

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Date of creation: 2004
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Handle: RePEc:anp:en2004:096

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G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages
D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions

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This page was last updated on 2009-11-17.

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