Search Results - subject:"Precautionary Demand"

How central banks prepare for financial crises – An empirical analysis of the effects of crises and globalisation on international reserves

Steiner, Andreas - In: Journal of International Money and Finance 33 (2013) C, pp. 208-234

Central banks' international reserve holdings have increased significantly in the recent past. While traditional models fail to explain this accumulation of reserves, the more recent literature argues that reserves are used as a lifejacket against financial crises. However, research so far has...

Persistent link: https://www.econbiz.de/10010636245

Estimation of Precautionary Demand by Financial Anxieties

Morita, Y.; Rahman, Md. J.; Miyagawa, S. - Society for Computational Economics - SCE - 2006

to be stationary. Precautionary demand caused by financial anxieties is estimated in VEC model and it is shown that money … adjusted by precautionary demand satisfies a long-run equilibrium relationship in the system (adjusted money, real GDP …

Persistent link: https://www.econbiz.de/10005706203

International Reserves: Precautionary versus Mercantilist Views, Theory and Evidence

Aizenman, Joshua; LEE, JAEWOO - Santa Cruz Institute for International Economics … - 2005

are in line with the precautionary demand. The effects of financial crises have been localized, increasing reserve … investigate the micro foundation of precautionary demand, extending Diamond and Dybvig (1983)â€™s model to an open, emerging … precautionary demand for international reserves, providing self-insurance against the adverse output effects of sudden stop and …

Persistent link: https://www.econbiz.de/10011130425

International Reserves: Precautionary versus Mercantilist Views, Theory and Evidence

Aizenman, Joshua; LEE, JAEWOO - Economics Department, University of California-Santa … - 2005

Persistent link: https://www.econbiz.de/10011130562

International Reserves: Precautionary versus Mercantilist Views, Theory and Evidence

Aizenman, Joshua; LEE, JAEWOO - Economics Department, University of California-Santa … - 2005

Persistent link: https://www.econbiz.de/10011130627

International reserves management and capital mobility in a volatile world: Policy considerations and a case study of Korea

Aizenman, Joshua; Lee, Yeonho; Rhee, Yeongseop - Santa Cruz Institute for International Economics … - 2004

This paper characterizes the precautionary demand for international reserves driven by the attempt to reduce the …

Persistent link: https://www.econbiz.de/10011130429

International Reserves Management and Capital Mobility in a Volatile World: Policy Considerations and a Case Study of Korea

Aizenman, Joshua; Lee, Yeonho; Rhee, Yeongseop - Economics Department, University of California-Santa … - 2004

This paper characterizes the precautionary demand for international reserves driven by the attempt to reduce the …

Persistent link: https://www.econbiz.de/10011130596

International reserves management and capital mobility in a volatile world: Policy considerations and a case study of Korea

Aizenman, Joshua; Lee, Yeonho; Rhee, Yeongseop - Economics Department, University of California-Santa … - 2004

This paper characterizes the precautionary demand for international reserves driven by the attempt to reduce the …

Persistent link: https://www.econbiz.de/10011130642

What Do We Learn from the Price of Crude Oil Futures?

Alquist, Ron; Kilian, Lutz - C.E.P.R. Discussion Papers - 2007

shortfalls causes the basis to decline and precautionary demand for crude oil to increase, resulting in an immediate increase in … the negative of the basis may be viewed as an index of fluctuations in the price of crude oil driven by precautionary … demand for oil. Our empirical analysis of this index provides independent evidence of how shifts in market expectations about …

Persistent link: https://www.econbiz.de/10005792183

International Reserves: Precautionary Versus Mercantilist Views, Theory and Evidence

Aizenman, Joshua; Lee, Jaewoo - In: Open Economies Review 18 (2007) 2, pp. 191-214

account regime increases international reserves. Theoretically, large precautionary demand for international reserves arises …

Persistent link: https://www.econbiz.de/10005715102