LEADER 03597nam 2200721 450 001 9910463603403321 005 20181115032543.0 010 $a1-4623-3561-6 010 $a1-4527-3697-9 010 $a1-282-84100-9 010 $a1-4518-7007-8 010 $a9786612841002 035 $a(CKB)3170000000055045 035 $a(EBL)1607899 035 $a(SSID)ssj0000944152 035 $a(PQKBManifestationID)11597308 035 $a(PQKBTitleCode)TC0000944152 035 $a(PQKBWorkID)10982483 035 $a(PQKB)10101856 035 $a(OCoLC)762675555 035 $a(MiAaPQ)EBC1607899 035 $a(EXLCZ)993170000000055045 100 $a20140226h20082008 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aInternational reserves and self-insurance against external shocks /$fRe?gis Barnichon ; authorized for distribution by Juan Zalduendo 210 1$a[Washington, District of Columbia] :$cInternational Monetary Fund,$d2008. 210 4$dİ2008 215 $a1 online resource (23 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/149 300 $aDescription based upon print version of record. 311 $a1-4519-1460-1 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. Natural Disasters in the Caribbean and the Sahel; A. Hurricanes in the Caribbean; B. Droughts in the Sahel; III. A model of optimal international reserves; A. The model; B. An approximated closed-form solution for the reserves-to-imports ratio:; IV. Calibration and Numerical Solution; A. Self-insurance against natural disasters; B. Self-insurance against terms of trade shocks; C. Self-insurance against natural disasters and terms of trade shocks; V. Conclusion; References; Appendix 1. List of Countries in Each Group 330 $aThe views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This paper develops an analytical framework that helps to quantify the optimal level of international reserves for a small open economy with limited access to foreign capital and subject to natural disasters or terms of trade shocks. International reserves allow the country to relieve balance of payments pressures caused by external shocks an 410 0$aIMF Working Papers 606 $aForeign exchange$xEconometric models 606 $aCapital movements$xEconometric models 606 $aForeign exchange$zCaribbean Area$xEconometric models 606 $aCapital movements$zCaribbean Area$xEconometric models 606 $aForeign exchange$zSahel$xEconometric models 606 $aCapital movements$zSahel$xEconometric models 608 $aElectronic books. 615 0$aForeign exchange$xEconometric models. 615 0$aCapital movements$xEconometric models. 615 0$aForeign exchange$xEconometric models. 615 0$aCapital movements$xEconometric models. 615 0$aForeign exchange$xEconometric models. 615 0$aCapital movements$xEconometric models. 676 $a332.450724 700 $aBarnichon$b Re?gis$0960799 701 $aZalduendo$b Juan$0901875 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910463603403321 996 $aInternational reserves and self-insurance against external shocks$92178042 997 $aUNINA