In recent years, some central banks have implemented monetary policy without reserve requirements by using a ceiling and floor for overnight interest rates established by central bank lending and deposit facilities. This paper analyzes a theoretical model of such a "tunnel " system and the benefits of adding reserve requirements to it. However, reserve requirements may involve social costs owing to the reserve avoidance activities of banks. The paper also presents a modified model with no reserve avoidance, where banks optimally choose to hold voluntary reserve requirements. The paper highlights the importance for central banks to consider such models in light of idiosyncratic features of their own institutional environment, which...
We build a dynamic model with currency, demand deposits and bank reserves. The monetary base is cont...
Over the past decade, the level of required balances held by depository institutions in the United S...
This paper uses a global game framework of bank runs to analyse how banks choose reserves and short ...
An implicit rationale for a bank reserve requirement is that a central monetary authority is in a un...
We analyse three models to determine the conditions under which reserve requirements are used as a p...
When I was a student thirty years ago, most economic textbooks portrayed reserve requirements as an ...
A common feature of financial sectors in the third world is the presence of financial repression: th...
Private banks are required to hold as the legal reserve a fixed portion of the deposit that they acc...
International audienceUnlike past literature adopting the loanable funds view, we follow the financi...
Reserve requirements has been part of the monetary policy instruments of banking in many countries i...
Banks can fail because of bad economic fundamentals, and/or general panic withdrawals by depositors ...
nonpersonal time deposits.and required reserves foil by about $10 billion, an almost 20 percent redu...
In response to the financial crisis of 2007/08, all major central banks decreased interest rates to ...
Banks can fail because of bad economic fundamentals, and/or general panic withdrawals by depositors ...
A global game framework of bank runs is used to analyse a bank's choice of its reserve level and sho...
We build a dynamic model with currency, demand deposits and bank reserves. The monetary base is cont...
Over the past decade, the level of required balances held by depository institutions in the United S...
This paper uses a global game framework of bank runs to analyse how banks choose reserves and short ...
An implicit rationale for a bank reserve requirement is that a central monetary authority is in a un...
We analyse three models to determine the conditions under which reserve requirements are used as a p...
When I was a student thirty years ago, most economic textbooks portrayed reserve requirements as an ...
A common feature of financial sectors in the third world is the presence of financial repression: th...
Private banks are required to hold as the legal reserve a fixed portion of the deposit that they acc...
International audienceUnlike past literature adopting the loanable funds view, we follow the financi...
Reserve requirements has been part of the monetary policy instruments of banking in many countries i...
Banks can fail because of bad economic fundamentals, and/or general panic withdrawals by depositors ...
nonpersonal time deposits.and required reserves foil by about $10 billion, an almost 20 percent redu...
In response to the financial crisis of 2007/08, all major central banks decreased interest rates to ...
Banks can fail because of bad economic fundamentals, and/or general panic withdrawals by depositors ...
A global game framework of bank runs is used to analyse a bank's choice of its reserve level and sho...
We build a dynamic model with currency, demand deposits and bank reserves. The monetary base is cont...
Over the past decade, the level of required balances held by depository institutions in the United S...
This paper uses a global game framework of bank runs to analyse how banks choose reserves and short ...