The complexity of the monetary phenomenon as well as the effects that it induces in the social and economic life of the countries around the world have represented and still represent the subject of much controversy and dispute. The current forms of the monetary circulation organization in...

The complexity of the monetary phenomenon as well as the effects that it induces in the social and economic life of the countries around the world have represented and still represent the subject of much controversy and dispute. The current forms of the monetary circulation organization in...

Bayesian dynamic stochastic general equilibrium (DSGE) models combine microeconomic behavioural foundations with a full-system Bayesian likelihood estimation approach using key macro-economic variables. Because of the usefulness of this class ofmodels for addressing questions regarding the...

We present a detailed survey of changes in the reserve requirement system in Brazil and analyze the system's main functions and goals during the period from 1994 to 2012. We identify four different subperiods with respect to the use of this policy tool. In the first subperiod, from july 1994 to...

We present a detailed survey of changes in the reserve requirement system in Brazil and analyze the system's main functions and goals during the period from 1994 to 2012. We identify four different subperiods with respect to the use of this policy tool. In the first subperiod, from july 1994 to...