Delatte, Anne-Laure; Fouquau, Julien - In: Applied Economics 43 (2011) 28, pp. 4179-4192
In this article, we adopt a nonlinear approach to examine the dynamics of the international reserves holdings by the emerging economies. To do so, we estimate the demand for international reserves with a Panel Smooth Transition Regression (PSTR) model that loosens two restricting hypotheses,...
