Are there optimal multiple reserve requirements?

Arbeitspapier

A number of developing countries have adopted deficit-finance regimes involving multiple reserve requirements. One question the previous literature on this phenomenon has not addressed is whether multiple-reserves regimes can improve on regimes involving single-currency-reserve requirements if the policy settings of the latter regimes are assumed to be chosen optimally. We find that a "conventional" multiple-reserves regime--a regime with positive nominal rates on reservable bonds--cannot Pareto-improve an optimal single-currency-regime but can, in some cases, increase social welfare over such a regime.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 96-18

Klassifikation und Themen

• Klassifikation: Wirtschaft
• Thema: Banks and banking ; Central ; Bank reserves

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Espinosa, Marco ; Russell, Steven
• Ereignis: Veröffentlichung
• (wer): Federal Reserve Bank of Atlanta
• (wo): Atlanta, GA
• (wann): 1996

Weitere Informationen

• Handle: http://hdl.handle.net/10419/100860
• Letzte Aktualisierung: 10.03.2025, 11:41 MEZ