Optimal reserves in the Eastern Caribbean Currency Union /

Recent turbulence in global and Caribbean regional financial markets underscore the importance of reassessing the adequacy of international reserves held by the Eastern Caribbean Central Bank (ECCB). Using the Jeanne (2007) optimization framework, this paper finds that international reserves held by...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Dehesa, M. (Mario) (Autor), Pineda, Emilio, 1974- (Autor), Samuel, Wendell (Autor)
Autor Corporativo: International Monetary Fund. Western Hemisphere Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, DC] : International Monetary Fund, ©2009.
Colección:IMF working paper ; WP/09/77.
Temas:
Eastern Caribbean Currency Union.
Eastern Caribbean Currency Union
Reserves (Accounting) > Caribbean Area.
Monetary unions > Caribbean Area.
Réserves (Comptabilité) > Caraïbes (Région)
Unions monétaires > Caraïbes (Région)
Acceso en línea:Texto completo
Tabla de Contenidos:
  • I. Introduction; II. Traditional Measures of Reserve Adequacy; Tables; 1. Comparison of International Reserves Across Regions; III. Optimal International Reserves; Figures; 1. Optimal Level of Reserves: Given Different Shocks to the Current Account; 2. Optimal Level of Reserves: Different Shocks to the Capital Account; 3. Optimal Level of Reserves: Different Intensities of Bank Run; IV. Sensitivity Analysis (Simulation Exercises); 4. Optimal Level of Reserves: Sensitivity to Output Loss; V. Implications of Central Bank Reserve Rule
  • 5. Optimal Level of Reserves: Sensitivity to Cost of Holding Reserves6. Broad Money and Demand Liabilities 1984-2008; 2. Regression Results for Money Demand, 1984-2008; VI. Conclusion and Policy Implications; 7. Optimal Level of Reserves: Different Intensities of Bank Run; References

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