03219nam 2200613Ia 450 991046407450332120181019212735.01-4623-2046-51-4527-8236-91-282-84298-61-4518-7224-09786612842986(CKB)3170000000055246(EBL)1608253(SSID)ssj0000942998(PQKBManifestationID)11566062(PQKBTitleCode)TC0000942998(PQKBWorkID)10974703(PQKB)10730025(OCoLC)608261861(MiAaPQ)EBC1608253(EXLCZ)99317000000005524620041202d2009 uf 0engurcn|||||||||txtccrOptimal reserves in the Eastern Caribbean Currency Union[electronic resource] /prepared by Mario Dehesa, Emilio Pineda, and Wendell Samuel[Washington D.C.] International Monetary Fund20091 online resource (22 p.)IMF working paper ;WP/09/77Description based upon print version of record.1-4519-1659-0 Includes bibliographical references.Contents; I. Introduction; II. Traditional Measures of Reserve Adequacy; Tables; 1. Comparison of International Reserves Across Regions; III. Optimal International Reserves; Figures; 1. Optimal Level of Reserves: Given Different Shocks to the Current Account; 2. Optimal Level of Reserves: Different Shocks to the Capital Account; 3. Optimal Level of Reserves: Different Intensities of Bank Run; IV. Sensitivity Analysis (Simulation Exercises); 4. Optimal Level of Reserves: Sensitivity to Output Loss; V. Implications of Central Bank Reserve Rule5. Optimal Level of Reserves: Sensitivity to Cost of Holding Reserves 6. Broad Money and Demand Liabilities 1984-2008; 2. Regression Results for Money Demand, 1984-2008; VI. Conclusion and Policy Implications; 7. Optimal Level of Reserves: Different Intensities of Bank Run; ReferencesRecent 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.IMF working paper ;WP/09/77.Reserves (Accounting)Caribbean AreaMonetary unionsCaribbean AreaElectronic books.Reserves (Accounting)Monetary unionsDehesa M(Mario)910640Pineda Emilio1974-873347Samuel Wendell A963907MiAaPQMiAaPQMiAaPQBOOK9910464074503321Optimal reserves in the Eastern Caribbean Currency Union2273601UNINA