Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
958076 | Journal of Economics and Business | 2011 | 23 Pages |
Abstract
⺠This paper provides estimates of banks' demand for reserve balances on a period average basis for the period from 2005 to mid-2008. ⺠Consistent with theoretical work, we find that the demand for excess depends critically on uncertainty of flows in and out of reserve accounts. ⺠We document the variability of demand for excess reserve balances by institution size. ⺠We evaluate different models for forecasting demand for excess on a period average basis. ⺠We report the forecasting performance of each of these models.
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Authors
Ruth A. Judson, Elizabeth Klee,