IDEAS home Printed from https://ideas.repec.org/p/bcb/wpaper/171.html
   My bibliography  Save this paper

Modelos para a Utilização das Operações de Redesconto pelos Bancos com Carteira Comercial no Brasil

Author

Listed:
  • Sérgio Mikio Koyama
  • Márcio Issao Nakane

Abstract

Many models were used to identify the factors affecting the demand for overnight funds by commercial banks. Theses models overcome overdispersion problems caused by excess of zeros found in the dataset. Generalized Linear Latent and Mixed Models (GLLAMM) constitute a class of models which allows the identification of both the direct and indirect effects of rediscount rate through the inclusion of random effects in the intercept (incorporating specific effects for each bank) and other coefficients (identifying individual behavior of each bank regarding the same stimuli). The results suggest the use of overnight funds is mainly influenced by the opening amount in bank reserves, by the net value of operations in the SELIC clearinghouse, by the rediscount rate, by the volatility of in bank reserves and by the reserve requirements on demand deposits.

Suggested Citation

  • Sérgio Mikio Koyama & Márcio Issao Nakane, 2008. "Modelos para a Utilização das Operações de Redesconto pelos Bancos com Carteira Comercial no Brasil," Working Papers Series 171, Central Bank of Brazil, Research Department.
    • Handle: RePEc:bcb:wpaper:171
    as

    Download full text from publisher

    File URL: https://www.bcb.gov.br/content/publicacoes/WorkingPaperSeries/wps171.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bcb:wpaper:171. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Rodrigo Barbone Gonzalez (email available below). General contact details of provider: https://www.bcb.gov.br/en .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.