Recolhimentos Compulsórios E Distribuição Das Taxas De Empréstimos Bancários No Brasil
This work presents a semi parametric approach to evaluate the role of the Central Bank reserve requirements, both remunerated and non-remunerated, over the bank interest rate distribution in Brazil between September/2000 and March/2004. We adopted the semi parametric approach developed by DiNardo, Fortin and Lemieux (1996), originally constructed to get the effects of minimum wage in wage inequality. We consider two more explanatory factors: i) the default rate; ii) other individual characteristics, like bank size and bank liquidity. We used the kernel method with a careful reweight choice to estimate the counterfactual bank interest rate density associated with each one of the explanatory factors. This procedure allows us to compare the relative weight each factor has on the density of interest rates and yields a visually clear representation of precisely where in the distribution the various factors have greatest impact. We used data from Cosif and from information reported by banks to the Central Bank and we restricted the estimation for two categories of bank loans: Working Capital and Personal Overdrafts. The results show negligible effects of the variation of the default rate and important effects of reserve requirement rates on banking loan rates.
|Date of creation:||2004|
|Contact details of provider:|| Postal: Secretaria da ANPEC Rua Prof Marcos Valdemar de Freitas Reis s/n Campus do Gragoatá Bloco F Niterói, RJ 24210-201 Brazil|
Phone: 55 21 3674 7952
Web page: http://www.anpec.org.br
More information through EDIRC
|Order Information:|| Postal: Secretaria da ANPEC Rua Prof Marcos Valdemar de Freitas Reis s/n Campus do Gragoatá Bloco F Niterói, RJ 24210-201 Brazil|
When requesting a correction, please mention this item's handle: RePEc:anp:en2004:095. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rodrigo Zadra Armond)
If references are entirely missing, you can add them using this form.