The rapid growth of international reserves|a development concentrated in the emerging markets|remains a puzzle. In this …

The rapid growth of international reserves---a development concentrated in the emerging markets---remains a puzzle. In …

crisis, and inter alia to identification of potentially effective, and potentially ineffective, public policies. Additional …

for international reserves. In previous work, we have shown that international reserve demand can be rationalized by a … run combined with capital flight). Thus, simply looking at trade or short-term debt as motivations for reserve holdings is … before the current crisis, relative to their predicted holdings based on these financial motives, can significantly predict …

The massive stocks of foreign exchange reserves, mostly held in the form of U.S. T-bonds by emerging economies, are … by decentralized trade and U.S. T-bonds as facilitators of trade, can provide one possible resolution to this question …

The massive stocks of foreign exchange reserves, mostly held in the form of U.S. T-Bonds by emerging economies, are … by a non-centralized trading mechanism and U.S. T-Bonds as facilitators of trade, can provide an answer to this question … empirical simultaneous equations approach considering an endogenous relationship between OTC capital inflows and reserves …

balance, its response to exchange rate movements still operates mostly through the traditional trade channel, with a small but …

that trade liberalization has typically been followed by financial liberalization, which has led to a greater incidence of … boom-bust cycles. However, both trade and financial liberalization also have led to higher GDP growth. To substance our ….// ¿Es la liberación benéfica para el crecimiento aunque conduzca a crisis? La respuesta es un contundente sí. Pero entonces …