Zorunlu Karsiliklarin Para Politikasindaki Yeri
[TR] Bu calismada, zorunlu karsiliklarin para politikasindaki yeri kuresel finans krizi sonrasinda olusan yeni iktisadi konjonkturun ortaya koydugu gereksinimler baglaminda incelenmektedir. Zorunlu karsiliklarin para politikasi acisindan onemi, zorunlu karsiliklarin, politika faizinin aksine yalnizca belirli faiz oranlari uzerinde etkili olmasindan oturu, sermaye akimlarini artirmadan sikilastirici para politikasi uygulama imkani tanimasindan kaynaklanmaktadir. Calismada, zorunlu karsiliklarin kredi ve mevduat faizleri uzerindeki etkisi maliyet ve likidite kanallari uzerinden irdelenmektedir. [EN] In this study, we examine the role of reserve requirements as a monetary policy tool in the backdrop of the requirements emerged as a result of the new economic environment following the global financial crisis. The importance of reserve requirements, unlike the policy rate, stems from its ability to affect only certain interest rates, hence allowing the central bank to pursue countercyclical monetary policy without attracting capital inflows. The effect of reserve requirements on credit and deposit rates is analyzed through cost and liquidity channels.
|Date of creation:||2011|
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References listed on IDEAS
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- Simon T Gray, 2011. "Central Bank Balances and Reserve Requirements," IMF Working Papers 11/36, International Monetary Fund.
- Hernando Vargas Herrera & Yanneth R Betancourt & Carlos Varela & Norberto Rodriguez, 2011.
"Effects of reserve requirements in an inflation targeting regime: the case of Colombia,"
BIS Papers chapters,in: Bank for International Settlements (ed.), The global crisis and financial intermediation in emerging market economies, volume 54, pages 133-169
Bank for International Settlements.
- Hernando Vargas & Carlos Varela & Yanneth R. Betancourt & Norberto Rodríguez, 2010. "Effects of Reserve Requirements in an Inflation Targeting Regime: The Case of Colombia," Borradores de Economia 587, Banco de la Republica de Colombia.
- Hernando Vargas Herrera & Carlos Varela & Yanneth R. Betancourt & Norberto Rodríguez, 2010. "Effects of Reserve Requirements in an Inflation Targeting Regime: The Case of Colombia," BORRADORES DE ECONOMIA 006710, BANCO DE LA REPÚBLICA.
- Reinhart, Carmen M & Reinhart, Vincent R, 1999. "On the Use of Reserve Requirements in Dealing with Capital Flow Problems," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 4(1), pages 27-54, January.
- Reinhart, Carmen & Reinhart, Vincent, 1999. "On the use of reserve requirements in dealing with capital flow problems," MPRA Paper 13703, University Library of Munich, Germany.
- Fabia Aparecida de Carvalho & Cyntia F. Azevedo, 2008. "The incidence of reserve requirements in Brazil: Do bank stockholders share the burden?," Journal of Applied Economics, Universidad del CEMA, vol. 11, pages 61-90, May.
- Fabia A. de Carvalho & Cyntia F. Azevedo, 2008. "The Incidence of Reserve Requirements in Brazil: Do Bank Stockholders Share the Burden?," Working Papers Series 160, Central Bank of Brazil, Research Department.
- Scott E. Hein & Jonathan D. Stewart, 2002. "Reserve requirements: A modern perspective," Economic Review, Federal Reserve Bank of Atlanta, issue Q4, pages 41-52. Full references (including those not matched with items on IDEAS)
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