The reaction of bank lending to monetary policy in Brazil

Detalhes bibliográficos
Autor(a) principal: Takeda,Tony
Data de Publicação: 2005
Outros Autores: Rocha,Fabiana, Nakane,Márcio I.
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Revista Brasileira de Economia (Online)
Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402005000100005
Resumo: This paper evaluates the relevance of the "bank lending channel'' of monetary policy transmission in Brazil. Disaggregated monthly data of the Brazilian banks balance sheets from December 1994 to December 2001 are analyzed. In addition to the short-term interest rate, we consider the effects of another monetary policy instrument frequently used in Brazil, represented by reserve requirements on overall banks deposits - demand, savings, and time deposits. Dynamic panel data techniques are employed. Our results suggest that the impact of reserve requirements is relevant and stronger for larger banks loans. This finding results from the progressive reserve rates required from banks, which affect to a greater extent banks with larger deposit volumes.
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spelling The reaction of bank lending to monetary policy in Brazilmonetary policy transmissionreserve requirementsbank lending channelThis paper evaluates the relevance of the "bank lending channel'' of monetary policy transmission in Brazil. Disaggregated monthly data of the Brazilian banks balance sheets from December 1994 to December 2001 are analyzed. In addition to the short-term interest rate, we consider the effects of another monetary policy instrument frequently used in Brazil, represented by reserve requirements on overall banks deposits - demand, savings, and time deposits. Dynamic panel data techniques are employed. Our results suggest that the impact of reserve requirements is relevant and stronger for larger banks loans. This finding results from the progressive reserve rates required from banks, which affect to a greater extent banks with larger deposit volumes.Fundação Getúlio Vargas2005-03-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402005000100005Revista Brasileira de Economia v.59 n.1 2005reponame:Revista Brasileira de Economia (Online)instname:Fundação Getulio Vargas (FGV)instacron:FGV10.1590/S0034-71402005000100005info:eu-repo/semantics/openAccessTakeda,TonyRocha,FabianaNakane,Márcio I.eng2005-09-26T00:00:00Zoai:scielo:S0034-71402005000100005Revistahttp://bibliotecadigital.fgv.br/ojs/index.php/rbe/issue/archivehttps://old.scielo.br/oai/scielo-oai.php||rbe@fgv.br1806-91340034-7140opendoar:2005-09-26T00:00Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)false
dc.title.none.fl_str_mv The reaction of bank lending to monetary policy in Brazil
title The reaction of bank lending to monetary policy in Brazil
spellingShingle The reaction of bank lending to monetary policy in Brazil
Takeda,Tony
monetary policy transmission
reserve requirements
bank lending channel
title_short The reaction of bank lending to monetary policy in Brazil
title_full The reaction of bank lending to monetary policy in Brazil
title_fullStr The reaction of bank lending to monetary policy in Brazil
title_full_unstemmed The reaction of bank lending to monetary policy in Brazil
title_sort The reaction of bank lending to monetary policy in Brazil
author Takeda,Tony
author_facet Takeda,Tony
Rocha,Fabiana
Nakane,Márcio I.
author_role author
author2 Rocha,Fabiana
Nakane,Márcio I.
author2_role author
author
dc.contributor.author.fl_str_mv Takeda,Tony
Rocha,Fabiana
Nakane,Márcio I.
dc.subject.por.fl_str_mv monetary policy transmission
reserve requirements
bank lending channel
topic monetary policy transmission
reserve requirements
bank lending channel
description This paper evaluates the relevance of the "bank lending channel'' of monetary policy transmission in Brazil. Disaggregated monthly data of the Brazilian banks balance sheets from December 1994 to December 2001 are analyzed. In addition to the short-term interest rate, we consider the effects of another monetary policy instrument frequently used in Brazil, represented by reserve requirements on overall banks deposits - demand, savings, and time deposits. Dynamic panel data techniques are employed. Our results suggest that the impact of reserve requirements is relevant and stronger for larger banks loans. This finding results from the progressive reserve rates required from banks, which affect to a greater extent banks with larger deposit volumes.
publishDate 2005
dc.date.none.fl_str_mv 2005-03-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402005000100005
url http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402005000100005
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 10.1590/S0034-71402005000100005
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv text/html
dc.publisher.none.fl_str_mv Fundação Getúlio Vargas
publisher.none.fl_str_mv Fundação Getúlio Vargas
dc.source.none.fl_str_mv Revista Brasileira de Economia v.59 n.1 2005
reponame:Revista Brasileira de Economia (Online)
instname:Fundação Getulio Vargas (FGV)
instacron:FGV
instname_str Fundação Getulio Vargas (FGV)
instacron_str FGV
institution FGV
reponame_str Revista Brasileira de Economia (Online)
collection Revista Brasileira de Economia (Online)
repository.name.fl_str_mv Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)
repository.mail.fl_str_mv ||rbe@fgv.br
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