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Journal of Economics and Business
ISSN : 0148-6195

Size (of the product) matters


Carlo Reggiani | Economics, University of Manchester

Vol.63 No.4 , pp.329 ~ 344


This paper provides estimates of banks’ demand for excess reserve balances on a period average basis for the period from 2005 to mid-2008. Consistent with theoretical work, we find that the demand for excess depends critically on uncertainty of flows in and out of reserve accounts. We also document the variability of demand for excess reserve balances by institution size, evaluate different models for forecasting demand for excess on a period average basis, and report the forecasting performance of each of these models.


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