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Reserve requirements in the brave new macroprudential world /
Looks at the use of reserve requirements (RR) as a macroprudential tool. Its findings should be of particular interest to emerging market economists and policymakers that are faced with difficult questions regarding how to cope effectively with volatile capital flows. The analysis builds upon a new...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , , , |
| Autor Corporativo: | |
| Otros Autores: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, DC :
World Bank,
2014.
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| Colección: | World Bank studies.
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| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Front Cover; Contents; Preface; Acknowledgments; About the Authors; Abbreviations; Executive Summary; Chapter 1 Introduction; Chapter 2 Stylized Facts; Which Countries Have Used Reserve Requirements as a Macroeconomic Stabilization Tool?; Figures; Figure 2.1 Frequency of Changes in Reserve Requirements (1970-2011); What Have Been the Cyclical Properties of RR as a Macroeconomic Stabilization Tool?; Figure 2.2 Active versus Passive Reserve Requirement Policy (1970-2011); Figure 2.3 Frequency of Changes in Reserve Requirements (2005-11).
- Figure 2.4 Cyclicality of Reserve Requirement Policy (1970-2011); Figure 2.5a Cyclicality of Reserve Requirement Policy (1970-2004); Figure 2.5b Cyclicality of Reserve Requirement Policy (2005-11); How Is RRP Related to the Credit Cycle?; Figure 2.6 Correlation of Private Credit with GDP (1970-2011); What Is the Relation between RRP and Monetary Policy?; Figure 2.7 Private Credit for Developing Countries (1970-2011); Figure 2.8 Cyclicality of RRP versus Private Credit (Active Countries, 1970-2011); Figure 2.9 Cyclicality of Interest Rate Policy (1970-2011).
- Figure 2.10a Cyclicality of Interest Rate Policy (1970-2004); Figure 2.10b Cyclicality of Interest Rate Policy (2005-11); Tables; Table 2.1 Policy Mix Matrix (1970-2011); How Does Foreign Exchange Market Intervention Fit into the Picture?; Table 2.2a Policy Mix Matrix (1970-2004); Table 2.2b Policy Mix Matrix (2005-11); Figure 2.11 Cyclicality of International Reserves (1970-2011); Figure 2.12 Monetary versus Foreign Exchange Market Intervention Policy (1970-2011); Figure 2.13 RRP versus Foreign Exchange Market Intervention (1970-2011).
- Chapter 3 An Illustration of Policy Responses for Four Latin American Countries; Figure 3.1 Policy Response to a Real GDP Shock (One Standard-Deviation Shock); Figure 3.2 Policy Response to a Nominal Exchange Rate Depreciation Shock; Boxes; Box 3.1 The Narrative Approach to Identification; Chapter 4Policy Rationale; The Need for a Second Instrument; Figure 4.1 Cyclicality of Nominal Exchange Rates (1970-2011); Why Do RR Often Serve as the Second Instrument?; Figure 4.2 Monetary versus "Currency Defense" Policy (1970-2011); Which Country Characteristics Explain Different Policy Mixes?
- Figure 4.3 Relative Effect of Reserve Requirement versus Monetary PolicyTable; 4.1 Currency Crises and Policy Mix; Table 4.2 Credit and Policy Mix; Table 4.3 Capital Account Openness and Policy Mix; Chapter 5Microprudential Effects of Business Cycle Management; Box 5.1 Macroprudential Policy in Emerging Markets: The Cases of Brazil and Turkey; Tradeoffs over the Business Cycle; Chapter 6Policy Tensions and Tradeoffs; Chapter 7Policy Conclusions; Bibliography; Back Cover.