Hidden Bibliographic Details
| Other authors / contributors: | McGettigan, Donal, author.
Watt, Stanley, author.
International Monetary Fund. Middle East and Central Asia Department.
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| ISBN: | 1283515504
9781283515504
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| Notes: | Includes bibliographical references (pages 18-19).
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
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Jordan has seen a large increase in its international reserve holdings in recent years. While a healthy reserve buffer is needed under a fixed exchange rate regime, determining optimal reserve levels is not straightforward. In this paper, we first use several traditional measures of reserves adequacy to compare Jordan's reserve holdings with other emerging market (EM) countries. Subsequently, we analyze Jordan's reserve holdings using a reserves-optimizing model, based on Jeanne and Ranciere (2006) (J-R), but extended to allow reserve holdings to influence the likelihood of a sudden stop. The overall analysis suggests that Jordan's reserve holdings provide sufficient support to sustain the dinar peg and to deal with the most extreme capital account disruptions.
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| Other form: | Print version: Chami, Saade. Jordan's international reserve position. [Washington, D.C.] : International Monetary Fund, Middle East and Central Asia Dept., ©2007
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