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

Adrián Armas, Paul Castillo and Marco Vega

No 6445, IDB Publications (Working Papers) from Inter-American Development Bank

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. In general, the results show that tightening reserve requirements has the desired effects on interest rates and credit levels at both banks and smaller financial institutions (cajas municipales).

Keywords: Financial system; Reserve requirements; Foreign currency; Domestic currency; IDB-WP-499; Inflation targeting; Foreign currency liabilities; Nonconventional monetary policy (search for similar items in EconPapers)
JEL-codes: E51 E52 E58 G21 (search for similar items in EconPapers)
Date: 2014-04
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Citations: View citations in EconPapers (21)

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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:idb:brikps:6445

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