The Currency Composition of Foreign Exchange Reserves Retrospect and Prospect

This paper examines the determinants of the currency composition of international reserves. Our single most important finding is the striking stability over time of the relationship between the demand for reserves denominated in different currencies and its principal determinants: trade flows, finan...

Full description

Bibliographic Details
Main Author: Eichengreen, Barry
Other Authors: Mathieson, Donald
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2000
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
LEADER 02675nmm a2200625 u 4500
001 EB000928407
003 EBX01000000000000000722003
005 00000000000000.0
007 cr|||||||||||||||||||||
008 150128 ||| eng
020 |a 9781451855272 
100 1 |a Eichengreen, Barry 
245 0 0 |a The Currency Composition of Foreign Exchange Reserves  |b Retrospect and Prospect  |c Barry Eichengreen, Donald Mathieson 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2000 
300 |a 34 pages 
651 4 |a United States 
653 |a Standards 
653 |a Monetary Systems 
653 |a Monetary economics 
653 |a Banks and banking 
653 |a Banking 
653 |a Micro Finance Institutions 
653 |a Finance: General 
653 |a Depository Institutions 
653 |a Foreign exchange reserves 
653 |a Currencies 
653 |a Financial markets 
653 |a Money and Monetary Policy 
653 |a Reserve currencies 
653 |a Mortgages 
653 |a International monetary system 
653 |a International Monetary Arrangements and Institutions 
653 |a Central banks 
653 |a International capital markets 
653 |a Payment Systems 
653 |a Regimes 
653 |a Government and the Monetary System 
653 |a General Financial Markets: General (includes Measurement and Data) 
653 |a International reserves 
653 |a Foreign Exchange 
653 |a Monetary Policy 
653 |a Banks and Banking 
653 |a Capital market 
653 |a Money 
653 |a Banks 
653 |a Finance 
653 |a International finance 
700 1 |a Mathieson, Donald 
041 0 7 |a eng  |2 ISO 639-2 
989 |b IMF  |a International Monetary Fund 
490 0 |a IMF Working Papers 
028 5 0 |a 10.5089/9781451855272.001 
856 4 0 |u https://elibrary.imf.org/view/journals/001/2000/131/001.2000.issue-131-en.xml?cid=3693-com-dsp-marc  |x Verlag  |3 Volltext 
082 0 |a 330 
520 |a This paper examines the determinants of the currency composition of international reserves. Our single most important finding is the striking stability over time of the relationship between the demand for reserves denominated in different currencies and its principal determinants: trade flows, financial flows and currency pegs. This result contrasts sharply with recent predictions of sharp shifts in the currency composition of central banks' holdings of foreign exchange. The message would seem to be that in this, as in other respects, the international monetary system is in a mode of gradual, continuous evolution, not of rapid, discontinuous change