Azevedo, Cyntia F.; Carvalho, Fabia A. de - Departamento de Economia, Faculdade de Economia, … - 2004
There is consensus in the economic literature that reserve requirement is a tax levied upon financial intermediation. The incidence of the tax, however, is still a controversial issue. In this paper, we test whether the impact of changes in reserve requirements in the stock returns of the...