| 000 | 01968naa a2200205uu 4500 | ||
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| 001 | 8013117374219 | ||
| 003 | OSt | ||
| 005 | 20190212110254.0 | ||
| 008 | 080131s1995 bl ||||gr |0|| 0 por d | ||
| 100 | 1 |
_aGARCIA, Márcio G. P _933236 |
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| 245 | 1 | 0 | _aPolítica moetária, depósitos compulsórios e inflação |
| 260 |
_aSão Paulo : _bNobel, _cabr./jun. 1995 |
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| 520 | 3 | _aSince the outset of the Real Plan, the government has resorted to much higher reserve requirements on banks liabilities, as well as to the creation of reserve requirements on credit (a banks asset) in the attempt to restrict the expansion of monetary aggregates and credit. The policy intention was right, although the design of the reserve requirements profilei.e., the relative structure of the reserve require-ments on the different banks liabilitieswas flawed. This is because there is a very high (initially a 100% marginal) reserve requirement on demand deposits, which is the liability that typically grows the most when high inflations subside. Since the beginning of 1995, tax changes made profitable to transfer even very short-term funds from demand deposits to short term mutual funds. Furthermore, when such transfer is undertaken, the overall reserve requirement falls substantially. The main policy recommendation is to use both the reserve requirements profile and the tax structure so that the aggregate financial wealth is distributed among its several components in a way compatible with low inflation. This will avoid future reallocations of portfolio, thereby increasing the efficacy of monetary policy | |
| 590 | _aRevista de Economia Política 1995 | ||
| 590 | _av. 15, n. 2(58) | ||
| 773 | 0 | 8 |
_tRevista de Economia Política = Brazilian Journal of Political Economy _g15, 2, p. 112-124 _dSão Paulo : Nobel, abr./jun. 1995 _xISSN 01013157 _w |
| 942 | _cS | ||
| 998 |
_a20080131 _b1737^b _cMariana |
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| 998 |
_a20140217 _b1112^b _ckarina |
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_aConvertido do Formato PHL _bPHL2MARC21 1.1 _c25667 _d25667 |
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| 041 | _apor | ||