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Optimal international reserves and sovereign risk

Citations

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Cited by:

  1. Joshua Aizenman, 2008. "International Reserve Management and the Current Account," Central Banking, Analysis, and Economic Policies Book Series, in: Kevin Cowan & Sebastián Edwards & Rodrigo O. Valdés & Norman Loayza (Series Editor) & Klaus Schmidt- (ed.),Current Account and External Financing, edition 1, volume 12, chapter 11, pages 435-474, Central Bank of Chile.
  2. Bar-Ilan, Avner & Marion, Nancy P. & Perry, David, 2007. "Drift control of international reserves," Journal of Economic Dynamics and Control, Elsevier, vol. 31(9), pages 3110-3137, September.
  3. Yeonjeong Lee & Seong-Min Yoon, 2020. "Relationship between International Reserves and FX Rate Movements," Sustainability, MDPI, vol. 12(17), pages 1-24, August.
  4. Joshua Aizenman & Brian Pinto, 2013. "Managing Financial Integration and Capital Mobility—Policy Lessons from the Past Two Decades," Review of International Economics, Wiley Blackwell, vol. 21(4), pages 636-653, September.
  5. repec:rnp:ppaper:mak12 is not listed on IDEAS
  6. Bar-Ilan, Avner & Perry, David & Stadje, Wolfgang, 2004. "A generalized impulse control model of cash management," Journal of Economic Dynamics and Control, Elsevier, vol. 28(6), pages 1013-1033, March.
  7. Joshua Aizenman & Jaewoo Lee, 2008. "Financial versus Monetary Mercantilism: Long‐run View of Large International Reserves Hoarding," The World Economy, Wiley Blackwell, vol. 31(5), pages 593-611, May.
  8. Kathryn M. E. Dominguez, 2010. "International Reserves and Underdeveloped Capital Markets," NBER Chapters, in: NBER International Seminar on Macroeconomics 2009, pages 193-221, National Bureau of Economic Research, Inc.
  9. Zhichao Zhang & Frankie Chau & Li Xie, 2013. "Accumulation of large foreign reserves in China: a behavioural perspective," Economic Change and Restructuring, Springer, vol. 46(1), pages 85-108, March.
  10. Joshua Aizenman & Jaewoo Lee, 2007. "International Reserves: Precautionary Versus Mercantilist Views, Theory and Evidence," Open Economies Review, Springer, vol. 18(2), pages 191-214, April.
  11. Olivier Jeanne & Romain Rancière, 2011. "The Optimal Level of International Reserves For Emerging Market Countries: A New Formula and Some Applications," Economic Journal, Royal Economic Society, vol. 121(555), pages 905-930, September.
  12. Moritz Cruz & Bernard Walters, 2008. "Is the accumulation of international reserves good for development?," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 32(5), pages 665-681, September.
  13. Ferhan Salman & Aslihan Salih, 1999. "Modeling the Volatility In the Central Bank Reserves In An Emerging Market Setting," Working Papers 9901, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
  14. Joshua Aizenman & Nancy Marion, 2004. "International Reserve Holdings with Sovereign Risk and Costly Tax Collection," Economic Journal, Royal Economic Society, vol. 114(497), pages 569-591, July.
  15. Roland Beck & Sebastian Weber, 2011. "Should Larger Reserve Holdings Be More Diversified?," International Finance, Wiley Blackwell, vol. 14(3), pages 415-444, December.
  16. Mateane, Lebogang, 2023. "Risk preferences, global market conditions and foreign debt: Is there any role for the currency composition of FX reserves?," Research in Economics, Elsevier, vol. 77(3), pages 402-418.
  17. Aizenman, Joshua & Lee, Yeonho & Rhee, Youngseop, 2007. "International reserves management and capital mobility in a volatile world: Policy considerations and a case study of Korea," Journal of the Japanese and International Economies, Elsevier, vol. 21(1), pages 1-15, March.
  18. Suman Basu & Ran Bi & Prakash Kannan, 2010. "Regional reserve pooling arrangements," Proceedings, Federal Reserve Bank of San Francisco, issue oct.
  19. International Monetary Fund, 2008. "Foreign Reserve Adequacy in Sub-Saharan Africa," IMF Working Papers 2008/150, International Monetary Fund.
  20. Atish R. Ghosh & Jonathan D. Ostry & Charalambos G. Tsangarides, 2017. "Shifting Motives: Explaining the Buildup in Official Reserves in Emerging Markets Since the 1980s," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(2), pages 308-364, June.
  21. Diego Bastourre & Jorge Carrera & Javier Ibarlucia, 2009. "What is Driving Reserve Accumulation? A Dynamic Panel Data Approach," Review of International Economics, Wiley Blackwell, vol. 17(4), pages 861-877, September.
  22. Dongwon Lee, 2023. "International cooperation in foreign reserve policies in the presence of competitive hoarding," Review of International Economics, Wiley Blackwell, vol. 31(2), pages 389-412, May.
  23. Richard Ablin, 1994. "Exchange Rate Systems, Incomes Policy and Stabilization Some Short and Long-Run Considerations," Bank of Israel Working Papers 1994.01, Bank of Israel.
  24. Steiner, Andreas, 2013. "How central banks prepare for financial crises – An empirical analysis of the effects of crises and globalisation on international reserves," Journal of International Money and Finance, Elsevier, vol. 33(C), pages 208-234.
  25. Camilo Gonz�lez & Luisa F. Silva & Carmi�a O. Vargas & Andr�s M. Velasco, 2013. "An exploration on interbank markets and the operational framework of monetary policy in Colombia," Borradores de Economia 10982, Banco de la Republica.
  26. Joshua Aizenman & Menzie D. Chinn & Hiro Ito, 2008. "Assessing the Emerging Global Financial Architecture: Measuring the Trilemma's Configurations over Time," NBER Working Papers 14533, National Bureau of Economic Research, Inc.
  27. Gottlieb, Daniel, 2000. "Globalization and World financial Turmoil - A Test for Israel's Economic Policy," MPRA Paper 3150, University Library of Munich, Germany.
  28. Giulio Cifarelli & Giovanna Paladino, 2009. "The Buffer Stock Model Redux? An Analysis of the Dynamics of Foreign Reserve Accumulation," Open Economies Review, Springer, vol. 20(4), pages 525-543, September.
  29. Mr. Sunil Sharma & Woon Gyu Choi & Maria Strömqvist, 2007. "Capital Flows, Financial Integration, and International Reserve Holdings: The Recent Experience of Emerging Markets and Advanced Economies," IMF Working Papers 2007/151, International Monetary Fund.
  30. Yuliya Romanyuk, 2010. "Liquidity, Risk, and Return: Specifying an Objective Function for the Management of Foreign Reserves," Discussion Papers 10-13, Bank of Canada.
  31. Mishra, Ritesh Kumar & Sharma, Chandan, 2011. "India's demand for international reserve and monetary disequilibrium: Reserve adequacy under floating regime," Journal of Policy Modeling, Elsevier, vol. 33(6), pages 901-919.
  32. Esteban Javier Leguizamón & Pablo Alfredo Gluzmann, 2019. "Tipo de cambio real y crecimiento económico: Un análisis de robustez," Asociación Argentina de Economía Política: Working Papers 4162, Asociación Argentina de Economía Política.
  33. Joshua Aizenman, 2008. "Large Hoarding Of International Reserves And The Emerging Global Economic Architecture," Manchester School, University of Manchester, vol. 76(5), pages 487-503, September.
  34. Layal Mansour, 2014. "The Power of International Reserves: the impossible trinity becomes possible," Working Papers 1420, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
  35. Dionísio Dias Carneiro & Thomas Yen Hon Wu, 2006. "Sovereign Risk and Out-of-Equilibrium Exchange Rate Dynamics," Textos para Discussão 10, Instituto de Estudos de Política Econômica.
  36. Gupta, Rangan & Hammoudeh, Shawkat & Kim, Won Joong & Simo-Kengne, Beatrice D., 2014. "Forecasting China's foreign exchange reserves using dynamic model averaging: The roles of macroeconomic fundamentals, financial stress and economic uncertainty," The North American Journal of Economics and Finance, Elsevier, vol. 28(C), pages 170-189.
  37. Sula, Ozan, 2011. "Demand for international reserves in developing nations: A quantile regression approach," Journal of International Money and Finance, Elsevier, vol. 30(5), pages 764-777, September.
  38. Gaowang Wang & Heng-fu Zou, 2011. "Foreign Asset Accumulation, Macroeconomic Policies and Mercantilism," CEMA Working Papers 461, China Economics and Management Academy, Central University of Finance and Economics.
  39. Asimiyu Gbolagade Abiola & Francis Ojo Adebayo, 2013. "Channelling The Nigeria's Foreign Exchange Reserves into Alternative Investment Outlets: A Critical Analysis," International Journal of Economics and Financial Issues, Econjournals, vol. 3(4), pages 813-826.
  40. David Fernando López Angarita, 2006. "Nivel de reservas internacionales y riesgo cambiario en Colombia," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 8(15), pages 117-159, July-Dece.
  41. Soesmanto, Tommy & Selvanathan, Eliyathamby A. & Selvanathan, Saroja, 2015. "Analysis of the management of currency composition of foreign exchange reserves in Australia," Economic Analysis and Policy, Elsevier, vol. 47(C), pages 82-89.
  42. Jiang, Xiandeng & Shi, Yanlin & Zhang, Zhaoyong, 2021. "Does US partisan conflict affect China’s foreign exchange reserves?," International Review of Economics & Finance, Elsevier, vol. 75(C), pages 21-33.
  43. Cristian Camilo Porras-Alarcón, 2020. "Una aproximación a los determinantes de acumulación de reservas internacionales en economías emergentes," Borradores de Economia 1126, Banco de la Republica de Colombia.
  44. Młodkowski, Paweł, 2008. "Integracja monetarna i zarządzanie rezerwami walutowymi," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2008(9), September.
  45. K.P., Prabheesh, 2013. "Optimum international reserves and sovereign risk: Evidence from India," Journal of Asian Economics, Elsevier, vol. 28(C), pages 76-86.
  46. Olivier Jeanne, 2007. "International Reserves in Emerging Market Countries: Too Much of a Good Thing?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 38(1), pages 1-80.
  47. Lin, Justin Yifu & Treichel, Volker, 2012. "The unexpected global financial crisis : researching its root cause," Policy Research Working Paper Series 5937, The World Bank.
  48. Peter Rowland, 2005. "Buyback of Colombian Sovereign Debt," Borradores de Economia 331, Banco de la Republica de Colombia.
  49. Jaewoo Lee, 2009. "Option Pricing Approach to International Reserves," Review of International Economics, Wiley Blackwell, vol. 17(4), pages 844-860, September.
  50. Rustam Jamilov, 2013. "Optimal Resource Rent," William Davidson Institute Working Papers Series wp1046, William Davidson Institute at the University of Michigan.
  51. Steiner, Andreas, 2014. "Reserve accumulation and financial crises: From individual protection to systemic risk," European Economic Review, Elsevier, vol. 70(C), pages 126-144.
  52. Javier Gómez Restrepo & Juan Sebastián Rojas Bohórquez, 2013. "Assessing Reserve Adequacy: The Colombian Case," Borradores de Economia 781, Banco de la Republica de Colombia.
  53. Sula, Ozan, 2008. "Demand for International Reserves: A Quantile Regression Approach," MPRA Paper 11680, University Library of Munich, Germany.
  54. Avner Bar‐Ilan & Nancy P. Marion, 2009. "A Macroeconomic Perspective on Reserve Accumulation," Review of International Economics, Wiley Blackwell, vol. 17(4), pages 802-823, September.
  55. Sula, Ozan & Oguzoglu, Umut, 2021. "International reserves and economic growth," International Review of Economics & Finance, Elsevier, vol. 72(C), pages 16-28.
  56. M, Ramachandran & Maheswari, D., 2022. "Asymmetry in forex market intervention: Does it reflect fear of reserve inadequacy?," The Journal of Economic Asymmetries, Elsevier, vol. 25(C).
  57. Yin-wong Cheung & XingWang Qian, 2007. "Hoarding of International Reserves: Mrs Machlup¡¦s Wardrobe and the Joneses," Working Papers 132007, Hong Kong Institute for Monetary Research.
  58. Yin‐Wong Cheung & Xingwang Qian, 2009. "Hoarding of International Reserves: Mrs Machlup's Wardrobe and the Joneses," Review of International Economics, Wiley Blackwell, vol. 17(4), pages 824-843, September.
  59. Paweł Młodkowski, 2008. "Integracja monetarna i zarządzanie rezerwami walutowymi," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 9, pages 73-95.
  60. Drummond, Paulo & Dhasmana, Anubha, 2008. "Foreign Reserve Adequacy in Sub-Saharan Africa," MPRA Paper 9729, University Library of Munich, Germany.
  61. Lehto, Taru, 1994. "The level of a central bank's international reserves : theory and cross-country analysis," Research Discussion Papers 15/1994, Bank of Finland.
  62. Pablo García & Claudio Soto, 2006. "Large Hoardings of International Reserves: Are They Worth It?," Central Banking, Analysis, and Economic Policies Book Series, in: Ricardo Caballero & César Calderón & Luis Felipe Céspedes & Norman Loayza (Series Editor) & Klaus Sc (ed.),External Vulnerability and Preventive Policies, edition 1, volume 10, chapter 6, pages 171-206, Central Bank of Chile.
  63. Ghosh, Atish R. & Ostry, Jonathan D. & Tsangarides, Charalambos G., 2014. "Accounting for emerging market countries' international reserves: Are Pacific Rim countries different?," Journal of International Money and Finance, Elsevier, vol. 49(PA), pages 52-82.
  64. Dionísio Dias Carneiro & Thomas Wu, 2010. "Sovereign Risk and Out‐of‐Equilibrium Exchange Rate Dynamics," Review of Development Economics, Wiley Blackwell, vol. 14(4), pages 699-711, November.
  65. Gerencia Técnica, 2012. "Nivel óptimo y adecuado de reservas internacionales," Borradores de Economia 727, Banco de la Republica de Colombia.
  66. Heng, Dyna, 2011. "Does financial development reduce the motivation to hoard foreign reserves?," MPRA Paper 48555, University Library of Munich, Germany, revised 2012.
  67. Mr. Joshua Aizenman & Mr. Jaewoo Lee, 2005. "International Reserves: Precautionary vs. Mercantilist Views, Theory and Evidence," IMF Working Papers 2005/198, International Monetary Fund.
  68. Alexander Mihailov, 2022. "Editorial – Recent Trends in International Reserves: Theory and Evidence," Open Economies Review, Springer, vol. 33(5), pages 807-815, November.
  69. Antonio Francisco A. Silva Jr, 2011. "The Self-insurance Role of International Reserves and the 2008-2010 Crisis," Working Papers Series 256, Central Bank of Brazil, Research Department.
  70. Gerencia T�cnica-Banco de la Rep�blica, 2012. "Nivel �ptimo y adecuado de reservas internacionales," Borradores de Economia 9871, Banco de la Republica.
  71. Biljana Jovanovikj & Danica Unevska Andonova, 2017. "The Optimal Level of Foreign Reserves in Macedonia," Working Papers 2017-05, National Bank of the Republic of North Macedonia.
  72. Eiji Fujii & Xingwang Qian, 2025. "Cyclicality of International Reserves, Exchange Rate Flexibility, and Output Volatility," CESifo Working Paper Series 11800, CESifo.
  73. Mr. Robert P Flood & Ms. Nancy P. Marion, 2002. "Holding International Reserves in an Era of High Capital Mobility," IMF Working Papers 2002/062, International Monetary Fund.
  74. Mendoza, Ronald U., 2010. "Was the Asian crisis a wake-up call?: Foreign reserves as self-protection," Journal of Asian Economics, Elsevier, vol. 21(1), pages 1-19, February.
  75. Jie Li & Ramkishen S. Rajan, 2006. "Can High Reserves Offset Weak Fundamentals? A Simple Model of Precautionary Demand for Reserves," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 59(3), pages 317-328.
  76. Hercowitz, Zvi & Kantor, Nirit & Rubin Meridor, Leora, 1993. "Immigration and Growth Under Imperfect Capital Mobility: The Case of Israel," Foerder Institute for Economic Research Working Papers 275580, Tel-Aviv University > Foerder Institute for Economic Research.
  77. Hyeon-seung Huh & Philip Inyeob Ji & Cyn-Young Park, 2016. "The ‘trilemma’ hypothesis and policy implications for Fiji," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 30(1), pages 99-119, May.
  78. repec:zbw:bofrdp:1994_015 is not listed on IDEAS
  79. Changkyu Choi & Seung-Gwan Baek, 2008. "Exchange-Rate Regimes and International Reserves," Korean Economic Review, Korean Economic Association, vol. 24, pages 105-129.
  80. Alexander Mihailov & Harun Nasir, 2022. "Sudden Stops, Productivity and the Optimal Level of International Reserves for Small Open Economies," Open Economies Review, Springer, vol. 33(5), pages 825-851, November.
  81. Ana Maria Čeh & Ivo Krznar, 2009. "Optimal International Reserves of the CNB with Endogenous Probability of Crisis," Working Papers 21, The Croatian National Bank, Croatia.
  82. Gang Fan & Bijun Wang & Yiping Huang, 2013. "Intraregional Cross-holding of Reserve Currencies: A Proposal for Asia to Deal with the Global Reserve Risks," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 21(4), pages 14-35, July.
  83. Kohlscheen, E., 2020. "Limiting risk premia in EMEs: The role of FX reserves," Economics Letters, Elsevier, vol. 196(C).
  84. Peter Rowland, 2005. "Buyback Of Colombian Sovereign Debt," Borradores de Economia 2073, Banco de la Republica.
  85. Wilfredo L. Maldonado & Jorge Guillén & Jussara Ribeiro, 2021. "An international reserves variation threshold to increase loan funding," International Economics and Economic Policy, Springer, vol. 18(2), pages 247-265, May.
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