Read Holding International Reserves in an Era of High Capital Mobility

Holding International Reserves in an Era of High Capital Mobility

Robert P. Flood

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Description:Why do countries hold so much international reserves? Global reserve holdings (excluding gold) were equivalent to 17 weeks of imports at the end of 1999. That is almost double what they were at the end of 1960 and about 20 percent higher than they were at the start of the 1990s. In this paper we study countries’ reserve holdings in light of both the increased financial volatility experienced in the last decade and diminished adherence to fixed exchange rates. We find that buffer-stock reserve models work about as well in the modern floating-rate period as they did during the Bretton Woods regime. During both periods, however, the models’ fundamentals explain only a small portion (10-15 percent) of reserves volatility.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Holding International Reserves in an Era of High Capital Mobility. To get started finding Holding International Reserves in an Era of High Capital Mobility, you are right to find our website which has a comprehensive collection of manuals listed.
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Pages: 58

Format: PDF, EPUB & Kindle Edition

Publisher: International Monetary Fund

Release: 2002

ISBN: MWO3AAAAIAAJ

Description: Why do countries hold so much international reserves? Global reserve holdings (excluding gold) were equivalent to 17 weeks of imports at the end of 1999. That is almost double what they were at the end of 1960 and about 20 percent higher than they were at the start of the 1990s. In this paper we study countries’ reserve holdings in light of both the increased financial volatility experienced in the last decade and diminished adherence to fixed exchange rates. We find that buffer-stock reserve models work about as well in the modern floating-rate period as they did during the Bretton Woods regime. During both periods, however, the models’ fundamentals explain only a small portion (10-15 percent) of reserves volatility.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Holding International Reserves in an Era of High Capital Mobility. To get started finding Holding International Reserves in an Era of High Capital Mobility, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

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Holding International Reserves in an Era of High Capital Mobility

Holding International Reserves in an Era of High Capital Mobility

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