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The measurement of liquidity and optimal monetary policy response in a financial market in development: the case of Paraguay

dc.creatorBejarano, Willian
dc.creatorVelázquez, Carlino
dc.creatorRojas, Bernardo Darío
dc.creatorBiedermann, Gustavo
dc.creatorRuíz Díaz, Victor
dc.date.accessioned2020-12-23T17:59:29Z
dc.date.available2020-12-23T17:59:29Z
dc.date.created2012-06-01
dc.date.issued2012-06-01
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dc.identifier.urihttp://repositorio.bcp.gov.py/handle/123456789/125
dc.description.abstractThis paper explains the relationship between monetary policy decisions and the liquidity indicators. To this end, a Taylor Rule is estimated and transitory deviations from the rule are related to a selected liquidity indicator. Results suggest that liquidity in the Paraguayan economy is intimately linked with how loose or tight monetary policy is relative to a Taylor Rule benchmark. Historical data for Paraguay has shown that high (low) liquidity in the financial system is correlated with negative (positive) Taylor residuals.
dc.format.extent19 páginas
dc.format.mimetypeapplication/pdf
dc.language.isoeng
dc.publisherBCP
dc.relation.ispartofDocumentos de Trabajo
dc.relation.ispartofseriesDocumento de Trabajo
dc.relation.isversionofDocumento de Trabajo; N° 15
dc.rights.urihttp://creativecommons.org/publicdomain/zero/1.0/
dc.subjectLIQUIDEZ
dc.subjectREGLA DE TAYLOR
dc.subjectINFLACIÓN
dc.subjectOBJETIVO DE INFLACIÓN
dc.titleThe measurement of liquidity and optimal monetary policy response in a financial market in development: the case of Paraguay
dc.title.alternativeLa medición de la liquidez y la respuesta óptima de la política monetaria en un mercado financiero en desarrollo: el caso de Paraguay
dc.typeWorking Paper
dc.subject.keywordLIQUIDITY
dc.subject.keywordTAYLOR RULE
dc.subject.keywordINFLATION
dc.subject.keywordINFLATION TARGETING
dc.rights.accessRightsOpen Access
dc.type.spaDocumento de Trabajo
dc.type.hasversionPublished Version
dc.rights.ccCC0 1.0 Universal
dc.rights.spaAcceso abierto


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