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Optimal International Reserves
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Book Synopsis The Optimal Level of International Reserves for Emerging Market Countries by : Romain Ranciere
Download or read book The Optimal Level of International Reserves for Emerging Market Countries written by Romain Ranciere and published by International Monetary Fund. This book was released on 2006-10 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present a model of the optimal level of international reserves for a small open economy that is vulnerable to sudden stops in capital flows. Reserves allow the country to smooth domestic absorption in response to sudden stops, but yield a lower return than the interest rate on the country's long-term debt. We derive a formula for the optimal level of reserves, and show that plausible calibrations can explain reserves of the order of magnitude observed in many emerging market countries. However, the recent buildup of reserves in Asia seems in excess of what would be implied by an insurance motive against sudden stops.
Book Synopsis The Optimal Level of International Reserves for Emerging Market Countries by : Olivier Jeanne
Download or read book The Optimal Level of International Reserves for Emerging Market Countries written by Olivier Jeanne and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal International Reserves by : Heinz Robert Heller
Download or read book Optimal International Reserves written by Heinz Robert Heller and published by . This book was released on 1965 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis External Adjustment and the Optimal Demand for International Reserves by : International Monetary Fund
Download or read book External Adjustment and the Optimal Demand for International Reserves written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-10-27 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a theoretical underpinning for the major determinants of optimal reserve demand in the case where fundamental disequilibrium constitutes a key element governing reserve management. Emphasis is given to the role of reserves to smooth the process of economic adjustment by financing part of external disequilibrium, as well as to meet temporary random fluctuations in the excess demand for foreign exchange. The analysis incorporates this financing aspect of reserve holdings into a simple inventory model and discusses the optimal stock of reserves in the context of the optimal mix of adjustment and financing.
Book Synopsis Optimal Reserves in Financially Closed Economies by : Mr.Olivier Jeanne
Download or read book Optimal Reserves in Financially Closed Economies written by Mr.Olivier Jeanne and published by International Monetary Fund. This book was released on 2016-04-12 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financially closed economies insure themselves against current-account shocks using international reserves. We characterize the optimal management of reserves using an open-economy model of precautionary savings and emphasize several results. First, the welfare-based opportunity cost of reserves differs from the measures often used by practitioners. Second, under plausible calibrations the model is consistent with the rule of thumb that reserves should be close to three months of imports. Third, simple linear rules can capture most of the welfare gains from optimal reserve management. Fourth, policymakers should place more emphasis on how to use reserves in response to shocks than on the reserve target itself.
Book Synopsis Optimal International Reserves by : Jacob A. Frenkel
Download or read book Optimal International Reserves written by Jacob A. Frenkel and published by . This book was released on 1981 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Reserves by : Mr.Jaewoo Lee
Download or read book International Reserves written by Mr.Jaewoo Lee and published by International Monetary Fund. This book was released on 2005-10-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper compares the importance of precautionary and mercantilist motives in the hoarding of international reserves by developing countries. Overall, empirical results support precautionary motives; in particular, a more liberal capital account regime increases international reserves. Theoretically, large precautionary demand for international reserves arises as a self-insurance to avoid costly liquidation of long-term projects when the economy is susceptible to sudden stops. The welfare gain from the optimal management of international reserves is of a first-order magnitude, reducing the welfare cost of liquidity shocks from a first-order to a second-order magnitude.
Book Synopsis Optimal Levels of International Reserves by : Barry David Lesser
Download or read book Optimal Levels of International Reserves written by Barry David Lesser and published by . This book was released on 1974 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Reserves and Self-Insurance against External Shocks by : Régis Barnichon
Download or read book International Reserves and Self-Insurance against External Shocks written by Régis Barnichon and published by International Monetary Fund. This book was released on 2008-06-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This paper develops an analytical framework that helps to quantify the optimal level of international reserves for a small open economy with limited access to foreign capital and subject to natural disasters or terms of trade shocks. International reserves allow the country to relieve balance of payments pressures caused by external shocks and to avoid large fluctuations in imports. I calibrate the model to two regions, the Caribbean and the Sahel, and assess the sensitivity of the results.
Book Synopsis Optimal International Reserves for a Stop-go Economy by : R. D. Bennett
Download or read book Optimal International Reserves for a Stop-go Economy written by R. D. Bennett and published by . This book was released on 1976 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal International Reserves and Sovereign Risk by : Avi Ben-Bassat
Download or read book Optimal International Reserves and Sovereign Risk written by Avi Ben-Bassat and published by . This book was released on 1990 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Optimal Level of International Reserves for Emerging Market Countriers by : Olivier Jeanne
Download or read book The Optimal Level of International Reserves for Emerging Market Countriers written by Olivier Jeanne and published by . This book was released on 2008 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis IMF Working Papers by : Romain Ranciere
Download or read book IMF Working Papers written by Romain Ranciere and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Optimal Currency Distribution of a Central Bank's Foreign Exchange Reserves by : Kaija-Leena Rikkonen
Download or read book The Optimal Currency Distribution of a Central Bank's Foreign Exchange Reserves written by Kaija-Leena Rikkonen and published by . This book was released on 1989 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tiivistelmä.
Book Synopsis The Optimal Level of International Reserves for Emerging Economies by : Jungu Yang
Download or read book The Optimal Level of International Reserves for Emerging Economies written by Jungu Yang and published by . This book was released on 2013 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Foreign Exchange Reserves Management by : John Nugée
Download or read book Foreign Exchange Reserves Management written by John Nugée and published by . This book was released on 2000 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal International Reserves of the CNB with Endogenous Probability of Crisis by : Ana Maria Čeh
Download or read book Optimal International Reserves of the CNB with Endogenous Probability of Crisis written by Ana Maria Čeh and published by . This book was released on 2009 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
