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We use panel probit models with unobserved heterogeneity, state-dependence and serially correlated errors in order to … analyze the determinants and the dynamics of current-account reversals for a panel of developing and emerging countries. The … due to serially correlated country-specific shocks related to local political or macroeconomic events. -- Panel data …
Persistent link: https://www.econbiz.de/10003870630
This paper analyses the effects of the foreign exchange re-serves accumulation on the key nominal and real macroeconomicvariables (GDP, employment, prices and exchange rates) in BRICcountries (Brazil, Russia, India, China). VAR model was used toempirically examine the effect of accumulation of...
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static and dynamic panel data methods. The results suggest that higher levels of reserves are associated with a larger ratio …
Persistent link: https://www.econbiz.de/10009659850
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static and dynamic panel data methods. The results suggest that higher levels of reserves are associated with a larger ratio …
Persistent link: https://www.econbiz.de/10013106087
This study considers emerging market central bank interventions motivated by international reserve management. Emerging market central banks use currency intervention as a policy tool against exchange rate movements and accumulate international reserves as an insurance against sudden stops or...
Persistent link: https://www.econbiz.de/10012951547