Estimating The Demand For Reserve Assets Across Diverse Groups
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Estimating The Demand For Reserve Assets Across Diverse Groups
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Author : Ms.Rina Bhattacharya
language : en
Publisher: International Monetary Fund
Release Date : 2018-03-09
Estimating The Demand For Reserve Assets Across Diverse Groups written by Ms.Rina Bhattacharya and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-09 with Business & Economics categories.
This paper takes a fresh look at the determinants of reserves holding with the aim of highlighting similarities and differences in the motives for holding reserves among emerging markets (EMs), advanced economies (AEs), and low-income countries (LICs). We apply two panel estimation techniques: fixed effects (FE) and common correlated effects pooled mean group (CCEPMG). FE regression results suggest that precautionary savings motives, both current account- and capital account-related, are generally the most important determinants of reserves holding across country groups and that their importance has increased for AEs and LICs since the global financial crisis while receding for EMs. Mercantilist motives matter mostly for EMs. Intertemporal motives have been gaining importance everywhere over time. The CCEPMG results confirm the importance of precautionary motives and suggest that current account motives matter only for EMs and LICs and capital account motives matter for all groups while being more important for EMs in both the shortand long runs. The CCEPMG results also point to the importance of taking into account unobserved common factors that affect coefficient estimates and the dynamic process through which reserves adjust to changes. At about 0.6, the speed of adjustment to the long-run equilibrium implies that more than half of the gap between actual and desired reserve holdings is closed within a year.
The Demand For International Reserves
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Author : M. June Flanders
language : en
Publisher:
Release Date : 1971
The Demand For International Reserves written by M. June Flanders and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1971 with Developing countries categories.
Central Bank Balances And Reserve Requirements
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Author : Mr.Simon Gray
language : en
Publisher: International Monetary Fund
Release Date : 2011-02-01
Central Bank Balances And Reserve Requirements written by Mr.Simon Gray and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-02-01 with Business & Economics categories.
Most central banks oblige depository institutions to hold minimum reserves against their liabilities, predominantly in the form of balances at the central bank. The role of these reserve requirements has evolved significantly over time. The overlay of changing purposes and practices has the result that it is not always fully clear what the current purpose of reserve requirements is, and this necessarily complicates thinking about how a reserve regime should be structured. This paper describes three main purposes for reserve requirements - prudential, monetary control and liquidity management - and suggests best practice for the structure of a reserves regime. Finally, the paper illustrates current practices using a 2010 IMF survey of 121 central banks.
International Convergence Of Capital Measurement And Capital Standards
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Author :
language : en
Publisher: Lulu.com
Release Date : 2004
International Convergence Of Capital Measurement And Capital Standards written by and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Bank capital categories.
International Reserves And Foreign Currency Liquidity
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Author : Anne Y. Kester
language : en
Publisher: International Monetary Fund
Release Date : 2001-10-23
International Reserves And Foreign Currency Liquidity written by Anne Y. Kester and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-10-23 with Business & Economics categories.
International financial crises in the late 1990s revealed that deficiencies in countrieѕђة́ international reserves and related information made it difficult to anticipate and respond to crises by obscuring financial weaknesses and imbalances. This volume sets forth an innovative framework to assess countrieѕђة́ international reserves and foreign currency liquidity. The framework takes account of official balance sheet and off-balance-sheet financial activities, future and potential demand for foreign exchange to meet official obligations, the availability of official foreign currency assets to meet such demand, and official risk exposure to exchange rate fluctuations. This work clarifies what international reserves are, and how international reserves and related information should be strengthened to promote informed decision making in the public and private sectors, thereby helping improve the functioning of global financial markets.
Report Of The Managing Director To The Board Of Governors And To The Executive Board Pursuant To Article Xviii Section 4
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Author : International Monetary Fund. Finance Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-06-29
Report Of The Managing Director To The Board Of Governors And To The Executive Board Pursuant To Article Xviii Section 4 written by International Monetary Fund. Finance Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-29 with Business & Economics categories.
This report is submitted pursuant the provisions of the Articles of Agreement relating to a general allocation or cancellation of Special Drawing Rights (SDR). The Articles provide for periodic consideration and decisions on SDR allocations or cancellations in the context of consecutive basic periods of normally five years of duration (Article XVIII, Section 2(a)). The Tenth Basic Period for a general allocation or cancellation of SDRs began on January 1, 2012 and is scheduled to end on December 31, 2016. The Eleventh Basic Period will commence on January 1, 2017.
Revisiting Risk Weighted Assets
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Author : Vanessa Le Leslé
language : en
Publisher: International Monetary Fund
Release Date : 2012-03-01
Revisiting Risk Weighted Assets written by Vanessa Le Leslé and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-01 with Business & Economics categories.
In this paper, we provide an overview of the concerns surrounding the variations in the calculation of risk-weighted assets (RWAs) across banks and jurisdictions and how this might undermine the Basel III capital adequacy framework. We discuss the key drivers behind the differences in these calculations, drawing upon a sample of systemically important banks from Europe, North America, and Asia Pacific. We then discuss a range of policy options that could be explored to fix the actual and perceived problems with RWAs, and improve the use of risk-sensitive capital ratios.
Global Imbalances Financial Crises And Central Bank Policies
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Author : Andreas Steiner
language : en
Publisher: Elsevier
Release Date : 2016-07-25
Global Imbalances Financial Crises And Central Bank Policies written by Andreas Steiner and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-25 with Business & Economics categories.
Global Imbalances, Financial Crises, and Central Bank Policies assesses the relationships between global imbalances, financial crises, and central bank policies, with a specific focus on their reserves. The book contains a strictly international perspective with an analysis based on empirical research that enables the reader to develop an analytical model that emphasizes interactions among individual central banks. With this innovative approach, the book develops a new method for defining an optimal demand for reserves. In addition, the book describes implications for financial reforms that might ultimately be more important than its empirical findings. Presents a systematic account of the relationship between the build-up of reserves and central bank policies Emphasizes a global view of currency reserves, which is usually ignored in analyses of their effect Includes datasets as well as all illustrations and figures in online ancillary materials
The Case For A General Allocation Of Sdrs During The Tenth Basic Period
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2011-10-06
The Case For A General Allocation Of Sdrs During The Tenth Basic Period written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-06 with Business & Economics categories.
This paper is the outcome of a periodic process regarding the allocation (or cancellation) of Special Drawing Rights (SDRs), and is a report by the Managing Director to the Board of Governors and the Executive Board along with a staff paper that assesses the merits of a general allocation. Following consultations with the Executive Board on the case for a general allocation, the Managing Director decided not to make a proposal for a general SDR allocation at this time. Though there was openness among many Directors to consider a proposal in the upcoming basic period, there was also a widely-shared sense that it would be premature at this stage, owing to ongoing discussions on the role of the SDR in the context of reform of the international monetary system. Decisions by the Fund on a general allocation or cancellation of SDRs take place at regular intervals (or basic periods) of normally five years, with the Managing Director’s report due six months before each new basic period. The tenth basic period begins on January 1, 2012. The report can either propose a general SDR allocation (or cancellation of previous allocations), or conclude that the conditions set out in the IMF’s Articles of Agreement for an allocation or cancellation of SDRs are not currently in place, including broad support among IMF members that participate in the SDR Department. Under the IMF’s Articles of Agreements, the Managing Director may also propose allocations of SDRs at the request of the Board of Governors or the Executive Board. In this regard, an allocation could be considered if there is a long-term global need for reserves that could be usefully filled at least in part by SDRs and if it would not lead to inflationary pressures, assuming there is broad support among IMF members participating in the SDR Department.
Working And Living In The Shadow Of Economic Fragility
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Author : Marion Crain
language : en
Publisher: Oxford University Press
Release Date : 2014-03-18
Working And Living In The Shadow Of Economic Fragility written by Marion Crain and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-18 with Social Science categories.
Not since the Great Depression of the 1930s has the United States faced such a prolonged period of high unemployment and underemployment. Recovery from the "Great Recession" that began in 2008 has been slow, and is projected to remain sluggish over the next several years, while another shock to the global economy could erase the meager gains of the past months. Economic conditions remain fragile and employment challenges show no sign of letting up. With persistently high unemployment and underemployment-and growing inequality in wages-an increasing number of American families are no longer adequately supported by employment income and basic benefits. Many older workers have "retired" before they are ready, and many young workers cannot find a foothold in the job market. A silent crisis is underway, with huge social and economic costs for the nation. Working and Living in the Shadow of Economic Fragility examines the current state of employment through historical, macroeconomic, cultural, sociological and policy lenses, in order to address fundamental questions about the role and value of work in America today. The book offers suggestions for how to address the short- and long-term challenges of rebuilding a society of opportunity with meaningful and sustaining jobs as the foundation of the American middle class.