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
References: Add references at CitEc
Citations: View citations in EconPapers (24)

Downloads: (external link)
http://economia.lacea.org/contents.htm

Related works:
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)
Working Paper: Inflation targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:col:000425:012281

Access Statistics for this article

More articles in Economía Journal from The Latin American and Caribbean Economic Association - LACEA Contact information at EDIRC.
Bibliographic data for series maintained by LACEA ().