Real exchange rate and international reserves in the era of growing financial and trade integration:
This paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange rate (REER). We observe that international reserves cushions the impact of TOT shocks on the REER, and that this effect is important for developing but not for industrial countries...
Gespeichert in:
| Beteiligte Personen: | , |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2006
|
| Schriftenreihe: | Working paper series / National Bureau of Economic Research
12363 |
| Links: | http://papers.nber.org/papers/w12363.pdf |
| Zusammenfassung: | This paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange rate (REER). We observe that international reserves cushions the impact of TOT shocks on the REER, and that this effect is important for developing but not for industrial countries. This buffer effect is especially significant for Asian countries, and for countries exporting natural resources. Financial depth reduces the buffer role of IR in developing countries. Developing countries REER seem to be more sensitive to changes in reserve assets; whereas industrial countries display a significant relationship between hot money and REER. |
| Beschreibung: | Literaturverz. S. 12 - 13 |
| Umfang: | 34 S. graph. Darst. 22 cm |
Internformat
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| 100 | 1 | |a Aizenman, Joshua |d 1949- |e Verfasser |0 (DE-588)124080057 |4 aut | |
| 245 | 1 | 0 | |a Real exchange rate and international reserves in the era of growing financial and trade integration |c Joshua Aizenman ; Daniel Riera-Crichton |
| 264 | 1 | |a Cambridge, Mass. |b National Bureau of Economic Research |c 2006 | |
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| 490 | 1 | |a Working paper series / National Bureau of Economic Research |v 12363 | |
| 500 | |a Literaturverz. S. 12 - 13 | ||
| 520 | |a This paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange rate (REER). We observe that international reserves cushions the impact of TOT shocks on the REER, and that this effect is important for developing but not for industrial countries. This buffer effect is especially significant for Asian countries, and for countries exporting natural resources. Financial depth reduces the buffer role of IR in developing countries. Developing countries REER seem to be more sensitive to changes in reserve assets; whereas industrial countries display a significant relationship between hot money and REER. | ||
| 700 | 1 | |a Riera-Crichton, Daniel |e Verfasser |0 (DE-588)132313782 |4 aut | |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |
| 810 | 2 | |a National Bureau of Economic Research <Cambridge, Mass.> |t NBER working paper series |v 12363 |w (DE-604)BV002801238 |9 12363 | |
| 856 | 4 | 1 | |u http://papers.nber.org/papers/w12363.pdf |z kostenfrei |3 Volltext |
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-016907623 | |
Datensatz im Suchindex
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| id | DE-604.BV023592293 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T13:23:18Z |
| institution | BVB |
| language | English |
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| physical | 34 S. graph. Darst. 22 cm |
| publishDate | 2006 |
| publishDateSearch | 2006 |
| publishDateSort | 2006 |
| publisher | National Bureau of Economic Research |
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| series2 | Working paper series / National Bureau of Economic Research |
| spelling | Aizenman, Joshua 1949- Verfasser (DE-588)124080057 aut Real exchange rate and international reserves in the era of growing financial and trade integration Joshua Aizenman ; Daniel Riera-Crichton Cambridge, Mass. National Bureau of Economic Research 2006 34 S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 12363 Literaturverz. S. 12 - 13 This paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange rate (REER). We observe that international reserves cushions the impact of TOT shocks on the REER, and that this effect is important for developing but not for industrial countries. This buffer effect is especially significant for Asian countries, and for countries exporting natural resources. Financial depth reduces the buffer role of IR in developing countries. Developing countries REER seem to be more sensitive to changes in reserve assets; whereas industrial countries display a significant relationship between hot money and REER. Riera-Crichton, Daniel Verfasser (DE-588)132313782 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 12363 (DE-604)BV002801238 12363 http://papers.nber.org/papers/w12363.pdf kostenfrei Volltext |
| spellingShingle | Aizenman, Joshua 1949- Riera-Crichton, Daniel Real exchange rate and international reserves in the era of growing financial and trade integration |
| title | Real exchange rate and international reserves in the era of growing financial and trade integration |
| title_auth | Real exchange rate and international reserves in the era of growing financial and trade integration |
| title_exact_search | Real exchange rate and international reserves in the era of growing financial and trade integration |
| title_full | Real exchange rate and international reserves in the era of growing financial and trade integration Joshua Aizenman ; Daniel Riera-Crichton |
| title_fullStr | Real exchange rate and international reserves in the era of growing financial and trade integration Joshua Aizenman ; Daniel Riera-Crichton |
| title_full_unstemmed | Real exchange rate and international reserves in the era of growing financial and trade integration Joshua Aizenman ; Daniel Riera-Crichton |
| title_short | Real exchange rate and international reserves in the era of growing financial and trade integration |
| title_sort | real exchange rate and international reserves in the era of growing financial and trade integration |
| url | http://papers.nber.org/papers/w12363.pdf |
| volume_link | (DE-604)BV002801238 |
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