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International Reserves and Local Currency Internationalization : An Empirical Study on the Japanese Yen

Zhang, Zhiwen - 2010

This paper employs the GMM estimator to empirically investigate the effects of Japanese international reserves on Yen internationalization from 1976 through 2009 by specifying the regression benchmark based on the long-run determinants of Yen internationalization with economic power, Yen...

Persistent link: https://www.econbiz.de/10013138172

When countries do not do what they say : systematic discrepancies between exchange rate regime announcements and de facto policies

Bersch, Julia; Klüh, Ulrich - 2007

We study the apparent disconnect between what countries announce to be their exchange rate regime and what they de facto implement. Even though discrepancies between announcements and de facto polices are frequent, there is a lack of understanding of actual patterns and underlying reasons. We...

Persistent link: https://www.econbiz.de/10003951455

The 'Impossible Trinity' Hypothesis in an Era of Global Imbalances : Measurement and Testing

Aizenman, Joshua - 2012

We outline new metrics for measuring the trilemma aspects: exchange rate flexibility, monetary independence, and capital account openness, taking into account recent substantial international reserve accumulation. Since 1990, the trilemma variables in emerging markets have converged towards...

Persistent link: https://www.econbiz.de/10013105798

Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Mercantilism

Durdu, Ceyhun Bora; Mendoza, Enrique G.; Terrones, Marco E. - 2007

Financial globalization had a rocky start in emerging economies hit by Sudden Stops. Foreign reserves have grown very rapidly since then, as if those countries were practicing a New Mercantilism that views foreign reserves as a war-chest for defense against Sudden Stops. This paper conducts a...

Persistent link: https://www.econbiz.de/10014221388

Distinguishing Global Dollar Reserves from Official Holdings in the United States

Settlements, Bank for International - 2013

Official holdings of US dollar reserves are partly invested outside the United States. These offshore investments do not strictly speaking finance the US current account, but do support the US dollar. Offshore holdings grow fast when intervention is large

Persistent link: https://www.econbiz.de/10013092677

How Central Banks Prepare for Financial Crises - An Empirical Analysis of the Effects of Crises and Globalization on International Reserve Holdings

Steiner, Andreas - 2009

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 currency crises. However, research so far has...

Persistent link: https://www.econbiz.de/10013157442

Growing Global Needs for ACU-Denominated Reserve Assets

Choi, Gongpil - 2014

the region and the world as repeatedly dictated by the reality. Specifically, introduction of ACU-type of reserve assets …

Persistent link: https://www.econbiz.de/10013044370

Global increase in climate-related disasters

Thomas, Vinod; López, Ramón - 2015

intense climate-related natural disasters. In a regression analysis within a model of disaster risk determination for 1971 …Intense climate-related disasters - floods, storms, droughts, and heat waves - have been on the rise worldwide. At the … side and anthropogenic climate change on the other? This paper considers three main disaster risk factors - rising …

Persistent link: https://www.econbiz.de/10011404649

How Much More Exposed are the Poor to Natural Disasters? Global and Regional Measurement

Kim, Namsuk - 2012

This paper proposes a simple indicator to measure the exposure to natural disasters for the poor and non … more exposed to natural disasters than the nonpoor in the twenty-first century. The time trend varies across regions, with … poor people in East Asia and Pacific being most exposed to natural disasters, followed by those in South Asia and Sub …

Persistent link: https://www.econbiz.de/10013108424

Global Increase in Climate-Related Disasters

Thomas, Vinod - 2015

intense climate-related natural disasters.In a regression analysis within a model of disaster risk determination for 1971 …Intense climate-related disasters — floods, storms, droughts, and heat waves — have been on the rise worldwide. At the … side and anthropogenic climate change on the other? This paper considers three main disaster risk factors — rising …

Persistent link: https://www.econbiz.de/10013009390

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