An Approach to the Estimation of Inequality in Reserve Distribution (Methodes d'evaluation de l'inegalite dans la repartition des reserves) (Un metodo para estimar la desigualdad en la distribucion de reservas)

Ripley, Duncan M.; Suss, Esther C.

doi:10.2307/3866557

Staff Papers - International Monetary Fund

1974

DOI: 10.2307/3866557

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An Approach to the Estimation of Inequality in Reserve Distribution (Methodes d'evaluation de l'inegalite dans la repartition des reserves) (Un metodo para estimar la desigualdad en la distribucion de reservas)

Duncan M. Ripley¹,

Esther C. Suss²

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1983

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The Demand for International Reserves and Exchange Rate Adjustments: TheCase of LDCs, 1964-1972

Edwards¹

1983

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In this paper the relationship between the demand for international reserves and exchange rate adjustments is empirically investigated for a group of LDC's. It is shown that countries that have maintained a fixed exchange rate for a long period of time have a different demand function than countries that have occasionally used exchange rate adjustments for correcting payments imbalances. The dynamics of the adjustment for both groups of countries are also analyzed. The results show that while both groups tend to eliminate reserve disequilibria fast, those countries that have maintained a fixed rate tend to do it more slowly than countries that have occasionally devalued their currency. It Is also shown that the year prior to a devaluation, international reserves have been, on average, 30% below their short-run desired level. These results are important since they indicate that not all LDC's should be aggregated for prediction purposes. The results also have implications for the analysis of the adequacy of international reserves in less developed countries.

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The Demand for International Reserves and Exchange Rate Adjustments: TheCase of LDCs, 1964-1972

Edwards¹

1983

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An Approach to the Estimation of Inequality in Reserve Distribution (Methodes d'evaluation de l'inegalite dans la repartition des reserves) (Un metodo para estimar la desigualdad en la distribucion de reservas)

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The Demand for International Reserves and Exchange Rate Adjustments: TheCase of LDCs, 1964-1972

The Demand for International Reserves and Exchange Rate Adjustments: TheCase of LDCs, 1964-1972

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