Federal Reserve Bank of Richmond: 'Reserve Demand Estimation With Minimal Theory'
March 31, 2026
March 31, 2026
RICHMOND, Virginia, March 31 (TNSLrpt) -- The Federal Reserve Bank of Richmond issued the following white paper (No. 26-07) in March 2026 by Ricardo Lagos and Gaston Navarro entitled "Reserve Demand Estimation with Minimal Theory."
Here are excerpts:
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We propose a new reserve-demand estimation strategy--a middle ground between atheoretical reduced-form econometric approaches and fully structural quantitative-theoretic approaches. The strategy . . .
Here are excerpts:
* * *
We propose a new reserve-demand estimation strategy--a middle ground between atheoretical reduced-form econometric approaches and fully structural quantitative-theoretic approaches. The strategy . . .