Inflation targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru

Adrian Armas, Paul Castillo and Marco Vega

No 2014-003, Working Papers from Banco Central de Reserva del Perú

Abstract: This paper provides an overview of the Reserve Requirements measures undertaken by the Central Bank of Peru. We provide a rationale for the use of these instruments as well as empirical evidence on their effectiveness. In general, the results show that a reserve requirement tightening has the desired effects on interest rates and credit levels both at banks and smaller financial institutions (cajas municipales).

Keywords: Non-conventional monetary policy; Inflation Targeting; Reserve requirements. (search for similar items in EconPapers)
JEL-codes: E51 E52 E58 G21 (search for similar items in EconPapers)
Date: 2014-02
New Economics Papers: this item is included in nep-ban, nep-cba, nep-lam, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (25)

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Related works:
Journal Article: Inflation Targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru (2014)
Working Paper: Inflation targeting and quantitative tightening: effects of reserve requirements in Peru (2014)
Working Paper: Inflation Targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:rbp:wpaper:2014-003

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