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dc.creatorBejarano, Willian
dc.creatorVelázquez, Carlino
dc.creatorRojas, Bernardo Darío
dc.creatorBiedermann, Gustavo
dc.creatorRuíz Díaz, Victor
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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.relation.ispartofDocumentos de Trabajo
dc.relation.ispartofseriesDocumento de Trabajo
dc.relation.isversionofDocumento de Trabajo; N° 15
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.keywordTAYLOR RULE
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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