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Optimal Reserves in the Eastern Caribbean Currency Union

Recent turbulence in global and Caribbean regional financial markets underscore the importance of reassessing the adequacy of international reserves held by the Eastern Caribbean Central Bank (ECCB). Using the Jeanne (2007) optimization framework, this paper finds that international reserves held by...

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Bibliographic Details
Main Author: Samuel, Wendell
Other Authors: Pineda, Emilio, Dehesa, Mario
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2009
Series:IMF Working Papers
Subjects:
Foreign Exchange Reserves
Current Account
Short-term Capital Movements
Monetary Economics
Current Account Adjustment
Monetary Policy, Central Banking, And The Supply Of Money And Credit: General
Balance Of Payments
Exports And Imports
Capital Account
International Economics
International Lending And Debt Problems
Debts, External
External Debt
Money Supply
Monetary Base
International Reserves
Banks And Banking
Banking
Monetary Policy
Money And Monetary Policy
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:Recent turbulence in global and Caribbean regional financial markets underscore the importance of reassessing the adequacy of international reserves held by the Eastern Caribbean Central Bank (ECCB). Using the Jeanne (2007) optimization framework, this paper finds that international reserves held by the ECCB are generally adequate for a variety of external current account and capital account shocks. However, the ECCB would be challenged in the event of moderate to severe deposit outflows
Physical Description:20 pages
ISBN:9781451872248

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