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

Marco Vega (), Adrian Armas and Paul Castillo ()

Economía Journal, 2014, vol. Volume 15 Number 1, issue Fall 2014, 133-175

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

Keywords: Nonconventional 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
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Working Paper: Inflation Targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru (2014) Downloads
Working Paper: Inflation targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru (2014) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:col:000425:012281

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