05078oam 22011894 450 991097383150332120250426110928.0978661284298697814623204621462320465978145278236214527823699781282842984128284298697814518722481451872240(CKB)3170000000055246(EBL)1608253(SSID)ssj0000942998(PQKBManifestationID)11566062(PQKBTitleCode)TC0000942998(PQKBWorkID)10974703(PQKB)10730025(OCoLC)608261861(IMF)WPIEE2009077(MiAaPQ)EBC1608253(IMF)WPIEA2009077WPIEA2009077(EXLCZ)99317000000005524620020129d2009 uf 0engurcn|||||||||txtccrOptimal Reserves in the Eastern Caribbean Currency Union /Wendell Samuel, Emilio Pineda, Mario Dehesa1st ed.Washington, D.C. :International Monetary Fund,2009.1 online resource (22 p.)IMF Working PapersDescription based upon print version of record.9781451916591 1451916590 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 Papers; Working Paper ;No. 2009/077Reserves (Accounting)Caribbean AreaMonetary unionsCaribbean AreaBalance of paymentsimfBankingimfBanks and BankingimfCapital accountimfCurrent Account AdjustmentimfCurrent accountimfDebts, ExternalimfExports and ImportsimfExternal debtimfForeign exchange reservesimfInternational economicsimfInternational Lending and Debt ProblemsimfInternational reservesimfMonetary baseimfMonetary economicsimfMonetary PolicyimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfMoney and Monetary PolicyimfMoney supplyimfShort-term Capital MovementsimfUnited StatesimfReserves (Accounting)Monetary unionsBalance of paymentsBankingBanks and BankingCapital accountCurrent Account AdjustmentCurrent accountDebts, ExternalExports and ImportsExternal debtForeign exchange reservesInternational economicsInternational Lending and Debt ProblemsInternational reservesMonetary baseMonetary economicsMonetary PolicyMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralMoney and Monetary PolicyMoney supplyShort-term Capital Movements332.152Samuel Wendell1595846Dehesa Mario1816010Pineda Emilio1816173DcWaIMFBOOK9910973831503321Optimal Reserves in the Eastern Caribbean Currency Union4371918UNINA