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International Reserves and Self-Insurance against External Shocks / / Régis Barnichon



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Autore: Barnichon Régis Visualizza persona
Titolo: International Reserves and Self-Insurance against External Shocks / / Régis Barnichon Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2008
Descrizione fisica: 1 online resource (23 p.)
Disciplina: 332.450724
Soggetto topico: Foreign exchange - Econometric models
Capital movements - Econometric models
Foreign exchange - Caribbean Area - Econometric models
Capital movements - Caribbean Area - Econometric models
Foreign exchange - Sahel - Econometric models
Capital movements - Sahel - Econometric models
Banks and Banking
Exports and Imports
Natural Disasters
Trade: General
Climate
Natural Disasters and Their Management
Global Warming
Empirical Studies of Trade
Monetary Policy
International economics
Natural disasters
Banking
Exports
Imports
Terms of trade
International reserves
Economic policy
nternational cooperation
Foreign exchange reserves
Soggetto geografico: Grenada
Note generali: Description based upon print version of record.
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: Contents; 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
Sommario/riassunto: The 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 and to avoid large fluctuations in imports. I calibrate the model to two regions, the Caribbean and the Sahel, and assess the sensitivity of the results.
Titolo autorizzato: International Reserves and Self-Insurance against External Shocks  Visualizza cluster
ISBN: 1-4623-3561-6
1-4527-3697-9
1-282-84100-9
1-4518-7007-8
9786612841002
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910788236403321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2008/149