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Políticas de Encajes y Modelos Económicos

  • Carrera, César

    (Banco Central de Reserva del Perú)

El rol de los encajes bancarios como instrumento de control monetario ha sido constantemente discutido y modelado. En este trabajo se revisan los modelos en donde las políticas de requerimiento de encaje cumplen diferentes roles. Debido a que dicho rol es cambiante, los investigadores difieren en su efectividad. La gran heterogeneidad en la aplicación de dichos encajes por parte de los diferentes bancos centrales en el mundo, sugiere que aún no existe un consenso acerca de cuál es la estrategia óptima a seguir. Esta observación sirve de motivación a la reciente literatura teórica pues los encajes podrían tener un rol estabilizador en el sistema bancario y ayudar a que los bancos centrales alcancen sus objetivos macroeconómicos.

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Paper provided by Banco Central de Reserva del Perú in its series Working Papers with number 2012-006.

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Date of creation: Feb 2012
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Handle: RePEc:rbp:wpaper:2012-006
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