Narrow search
Showing 1 - 10 of 90
Cover Image
Inflation Targeting in Colombia, 2002-2012
Urrutia, Miguel; Hofstetter, Marc; Hamann, Franz - Inter-American Development Bank - 2014
After decades using monetary aggregates as the main instrument of monetary policy and having different varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as the nominal anchor, a floating exchange rate, and the...
Persistent link: https://www.econbiz.de/10010943921
Cover Image
Inflation Targeting and Quantitative Tightening: Effects of Reserve Requirements in Peru
Armas, Adrián; Castillo, Paul; Vega, Marco - Inter-American Development Bank - 2014
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...
Persistent link: https://www.econbiz.de/10010943927
Cover Image
On the Credibility of Inflation Targeting Regimes in Latin America
Mariscal, Rodrigo; Powell, Andrew; Tavella, Pilar - Inter-American Development Bank - 2014
Inflation targeting has been adopted in a set of emerging economies, including eight countries in Latin America. The success of this regime may depend critically on the credibility of the target and the expectation that the authorities will take appropriate actions if the target is breached....
Persistent link: https://www.econbiz.de/10010944050
Cover Image
Central Bank Liquidity Management and "Unconventional" Monetary Policies
Kawamura, Enrique; García-Cicco, Javier - Inter-American Development Bank - 2014
This paper presents a small open economy model to analyze the role of central bank liquidity management in implementing … that the central bank uses to manage liquidity in the economy, which creates a role for the central bank balance sheet in … list of eligible collaterals accepted at the liquidity facilities operated by the central bank. These policies have been …
Persistent link: https://www.econbiz.de/10010944371
Cover Image
Towards a "New" Inflation Targeting Framework: The Case of Uruguay
Sola, Martín; González-Rozada, Martin - Inter-American Development Bank - 2014
Using a dynamic stochastic general equilibrium model with financial frictions, this paper evaluates the effects of a rule that incorporates not only the interest rate but also the legal reserve requirements as instruments of monetary policy. It is found that reserve requirements can be used to...
Persistent link: https://www.econbiz.de/10010944440
Cover Image
International Initiatives to Bring Stability to Financial Integration
Fernández-Arias, Eduardo; Hausmann, Ricardo - Inter-American Development Bank - 1999
Financial liberalization and integration have generated disappointing results. They were supposed to set up a win-win situation: capital would flow from capital-abundant, low-return, aging industrial countries to capital-scarce, high-return, young emerging countries. Growth in receiving...
Persistent link: https://www.econbiz.de/10010944233
Cover Image
Achieving Stability in Latin American Financial Markets in the Presence of Volatile Capital Flows
Rojas-Suárez, Liliana; Weisbrod, Steven R. - Inter-American Development Bank - 1995
This paper considers whether reserve requirements have been effective in controlling excessive liquidity growth. It … expansion of risky bank credit that often accompanies excessive liquidity expansion. …
Persistent link: https://www.econbiz.de/10010944354
Cover Image
Towards an Effective Regulatory and Supervisory Framework for Latin America
Rojas-Suárez, Liliana; Weisbrod, Steven R. - Inter-American Development Bank - 1997
This paper raises fundamental questions about how banks in Latin America ought to be supervised. The concentration of wealth holders in Latin America and the equity markets' resulting illiquidity permit investors who control banks to subvert the intent of capital requirements, even when the bank...
Persistent link: https://www.econbiz.de/10010943658
Cover Image
Banking Crises in Latin America: Experience and Issues
Rojas-Suárez, Liliana; Weisbrod, Steven R. - Inter-American Development Bank - 1996
This paper argues that the experiences with banking crises in Latin America have been different from those in the industrial world because of the peculiarities of Latin American financial systems. Hence, applying the lessons derived from crisis resolution in the industrial world is not...
Persistent link: https://www.econbiz.de/10010943729
Cover Image
Financial Markets and the Behavior of Private Savings in Latin America
Rojas-Suárez, Liliana; Weisbrod, Steven R. - Inter-American Development Bank - 1997
This paper complements previous studies by arguing that the low private savings ratio in Latin America can be associated with the limited confidence of households and businesses in domestic financial institutions. Previous studies have established a relationship between private savings and...
Persistent link: https://www.econbiz.de/10010944067