LEADER 00832cam0-2200313---450- 001 990004059900403321 005 20081110154610.0 035 $a000405990 035 $aFED01000405990 035 $a(Aleph)000405990FED01 035 $a000405990 100 $a19990604d1944----km-y0itay50------ba 101 0 $aita 102 $aIT 105 $ay-------001yy 200 1 $a<>commedia$fIreneo Sanesi 210 $aMilano$cVallardi$d1944 215 $a2 v.$d23 cm 225 1 $aStoria dei generi letterari italiani 610 0 $aCommedia$aItalia 676 $a852.009 700 1$aSanesi,$bIreneo$f<1868-1964>$0155978 801 0$aIT$bUNINA$gRICA$2UNIMARC 901 $aBK 912 $a990004059900403321 952 $a852.009 SAN 1(1-2)$bBibl.24705$fFLFBC 959 $aFLFBC 996 $aCommedia$9150527 997 $aUNINA LEADER 05383oam 22014174 450 001 9910788412603321 005 20230721050900.0 010 $a1-4623-3365-6 010 $a1-4527-5316-4 010 $a1-283-36412-3 010 $a9786613823564 010 $a1-4519-0942-X 035 $a(CKB)3360000000443352 035 $a(EBL)3014405 035 $a(SSID)ssj0001479868 035 $a(PQKBManifestationID)11893771 035 $a(PQKBTitleCode)TC0001479868 035 $a(PQKBWorkID)11492097 035 $a(PQKB)11627575 035 $a(OCoLC)698585687 035 $a(MiAaPQ)EBC3014405 035 $a(IMF)WPIEE2006229 035 $a(EXLCZ)993360000000443352 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 14$aThe Optimal Level of International Reserves for Emerging Market Countries : $eFormulas and Applications /$fRomain Ranciere, Olivier Jeanne 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (35 p.) 225 1 $aIMF Working Papers 300 $a"October 2006". 311 $a1-4518-6489-2 320 $aIncludes bibliographical references. 327 $a""Contents""; ""I. INTRODUCTION""; ""II. SUDDEN STOPS AND RESERVES: SOME FACTS""; ""III. THE MODEL""; ""IV. APPLICATIONS""; ""V. EXTENSIONS""; ""VI. CONCLUDING COMMENTS""; ""APPENDIX: COMPUTATIONS""; ""REFERENCES"" 330 3 $aWe present a model of the optimal level of international reserves for a small open economy that is vulnerable to sudden stops in capital flows. Reserves allow the country to smooth domestic absorption in response to sudden stops, but yield a lower return than the interest rate on the country's long-term debt. We derive a formula for the optimal level of reserves, and show that plausible calibrations can explain reserves of the order of magnitude observed in many emerging market countries. However, the recent buildup of reserves in Asia seems in excess of what would be implied by an insurance motive against sudden stops. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/229 606 $aBalance of payments 606 $aForeign exchange administration 606 $aExports and Imports$2imf 606 $aFinance: General$2imf 606 $aForeign Exchange$2imf 606 $aMacroeconomics$2imf 606 $aBanks and Banking$2imf 606 $aCurrent Account Adjustment$2imf 606 $aShort-term Capital Movements$2imf 606 $aInternational Investment$2imf 606 $aLong-term Capital Movements$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aMacroeconomics: Consumption$2imf 606 $aSaving$2imf 606 $aWealth$2imf 606 $aMonetary Policy$2imf 606 $aInternational economics$2imf 606 $aFinance$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aBanking$2imf 606 $aSudden stops$2imf 606 $aExternal debt$2imf 606 $aEmerging and frontier financial markets$2imf 606 $aExchange rate arrangements$2imf 606 $aConsumption$2imf 606 $aBalance of payments$2imf 606 $aReserve positions$2imf 606 $aCentral banks$2imf 606 $aReserves accumulation$2imf 606 $aFinancial markets$2imf 606 $aCapital movements$2imf 606 $aDebts, External$2imf 606 $aFinancial services industry$2imf 606 $aEconomics$2imf 606 $aForeign exchange reserves$2imf 607 $aThailand$2imf 615 0$aBalance of payments. 615 0$aForeign exchange administration. 615 7$aExports and Imports 615 7$aFinance: General 615 7$aForeign Exchange 615 7$aMacroeconomics 615 7$aBanks and Banking 615 7$aCurrent Account Adjustment 615 7$aShort-term Capital Movements 615 7$aInternational Investment 615 7$aLong-term Capital Movements 615 7$aInternational Lending and Debt Problems 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aMacroeconomics: Consumption 615 7$aSaving 615 7$aWealth 615 7$aMonetary Policy 615 7$aInternational economics 615 7$aFinance 615 7$aCurrency 615 7$aForeign exchange 615 7$aBanking 615 7$aSudden stops 615 7$aExternal debt 615 7$aEmerging and frontier financial markets 615 7$aExchange rate arrangements 615 7$aConsumption 615 7$aBalance of payments 615 7$aReserve positions 615 7$aCentral banks 615 7$aReserves accumulation 615 7$aFinancial markets 615 7$aCapital movements 615 7$aDebts, External 615 7$aFinancial services industry 615 7$aEconomics 615 7$aForeign exchange reserves 700 $aRanciere$b Romain$01168798 701 $aJeanne$b Olivier$0125747 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788412603321 996 $aThe Optimal Level of International Reserves for Emerging Market Countries$93802262 997 $aUNINA LEADER 04673oas 2201537 a 450 001 9910139852803321 005 20251103213017.0 011 $a2152-2723 035 $a(OCoLC)477406398 035 $a(CONSER) 2009208165 035 $a(CKB)1000000000808945 035 $a(EXLCZ)991000000000808945 100 $a20091211a20109999 uy a 101 0 $aeng 135 $aur||||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aCyberpsychology, behavior and social networking 210 $aNew Rochelle, NY $cMary Ann Liebert, Inc 215 $a1 online resource 300 $aRefereed/Peer-reviewed 311 08$a2152-2715 531 0 $aCyberpsychology behav. soc. netw. 606 $aInternet$xSocial aspects$vPeriodicals 606 $aInternet$xPsychological aspects$vPeriodicals 606 $aMultimedia$xutilization$vPeriodicals 606 $aMultimedia$xutilization$vPeriodicals 606 $aUser-Computer Interface$vPeriodicals 606 $aPsychology, Social$vPeriodicals 606 $aComputer Communication Networks$xutilization$vPeriodicals 606 $aBehavior$vPeriodicals 606 $aBehavior$vPeriodicals 606 $aPsychology, Social$vPeriodicals 606 $aUser-Computer Interface$vPeriodicals 606 $aComputer Communication Networks$xutilization$vPeriodicals 606 $aComputer Communication Networks$xstatistics & numerical data 606 $aMultimedia$xstatistics & numerical data 606 $aUser-Computer Interface 606 $aBehavior 606 $aPsychology, Social 606 $aUser-Computer Interface 606 $aComputer Communication Networks$xstatistics & numerical data 606 $aMultimedia$xstatistics & numerical data 606 $aInternet$xPsychological aspects$2fast$3(OCoLC)fst00977198 606 $aInternet$xSocial aspects$2fast$3(OCoLC)fst01766793 606 $aInternet$xAspect social$vPe?riodiques 606 $aInternet$xAspect psychologique$vPe?riodiques 606 $aComportement humain 606 $aPsychologie 606 $aPsychologie sociale 606 $aSciences du comportement 606 $ahuman behavior$2aat 606 $apsychology$2aat 606 $asocial psychology$2aat 606 $abehavioral sciences$2aat 608 $aPeriodicals.$2fast 608 $aPeriodicals.$2lcgft 615 0$aInternet$xSocial aspects 615 0$aInternet$xPsychological aspects 615 22$aMultimedia$xutilization 615 2$aMultimedia$xutilization 615 2$aUser-Computer Interface 615 2$aPsychology, Social 615 2$aComputer Communication Networks$xutilization 615 2$aBehavior 615 12$aBehavior 615 22$aPsychology, Social 615 22$aUser-Computer Interface 615 22$aComputer Communication Networks$xutilization 615 2$aComputer Communication Networks$xstatistics & numerical data. 615 2$aMultimedia$xstatistics & numerical data. 615 2$aUser-Computer Interface. 615 12$aBehavior. 615 22$aPsychology, Social. 615 22$aUser-Computer Interface. 615 22$aComputer Communication Networks$xstatistics & numerical data. 615 22$aMultimedia$xstatistics & numerical data. 615 7$aInternet$xPsychological aspects. 615 7$aInternet$xSocial aspects. 615 6$aInternet$xAspect social 615 6$aInternet$xAspect psychologique 615 6$aComportement humain. 615 6$aPsychologie. 615 6$aPsychologie sociale. 615 6$aSciences du comportement. 615 7$ahuman behavior. 615 7$apsychology. 615 7$asocial psychology. 615 7$abehavioral sciences. 676 $a150 801 0$bDLC 801 1$bDLC 801 2$bDLC 801 2$bPFM 801 2$bCUS 801 2$bDLC 801 2$bOCLCQ 801 2$bOCLCF 801 2$bOCLCQ 801 2$bZ5A 801 2$bOCLCO 801 2$bCNUTO 801 2$bLND 801 2$bZAC 801 2$bOCLCA 801 2$bU3W 801 2$bOCLCO 801 2$bAU@ 801 2$bOCLCO 801 2$bWYU 801 2$bUWO 801 2$bOCLCO 801 2$bOCLCA 801 2$bBWN 801 2$bOCLCO 801 2$bOCLCA 801 2$bGZM 801 2$bOCLCQ 801 2$bUAB 801 2$bOCLCL 801 2$bCASUM 801 2$bLGG 801 2$bAUD 801 2$bLIP 801 2$bVNS 801 2$bUBY 906 $aJOURNAL 912 $a9910139852803321 996 $aCyberpsychology, behavior and social networking$92141606 997 $aUNINA