Holding international reserves in an era of high capital mobility /

Holding international reserves in an era of high capital mobility /

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Bibliographic Details
Author / Creator:	Flood, Robert P.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2002.
Description:	1 online resource (52 pages) : illustrations
Language:	English
Series:	IMF working paper, 2227-8885 ; WP/02/62 IMF working paper ; WP/02/62.
Subject:	Banks and banking, Central -- Econometric models. Bank reserves -- Econometric models. Capital movements -- Econometric models. Bank reserves -- Econometric models. Banks and banking, Central -- Econometric models. Capital movements -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12497768

Hidden Bibliographic Details
Other authors / contributors:	Marion, Nancy Peregrim. International Monetary Fund. Research Department.
ISBN:	1451895038 9781451895032 1281972746 9781281972743 1462383300 9781462383306 1451988478 9781451988475 9786613793966 6613793965
Notes:	Includes bibliographical references (pages 49-52). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 English. digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
Summary:	Annotation 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.
Other form:	Print version: Flood, Robert P. Holding international reserves in an era of high capital mobility. [Washington, D.C.] : International Monetary Fund, ©2002
Standard no.:	10.5089/9781451895032.001

Description
Summary:	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.
Physical Description:	1 online resource (52 pages) : illustrations
Format:	Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Bibliography:	Includes bibliographical references (pages 49-52).
ISBN:	1451895038 9781451895032 1281972746 9781281972743 1462383300 9781462383306 1451988478 9781451988475 9786613793966 6613793965
ISSN:	2227-8885 ;