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https://hdl.handle.net/10419/26110
Kompletter Metadatensatz
DublinCore-Feld | Wert | Sprache |
---|---|---|
dc.contributor.author | Cheung, Yin-Wong | en |
dc.contributor.author | Qian, Xingwang | en |
dc.date.accessioned | 2007-07-27 | - |
dc.date.accessioned | 2009-07-28T08:16:03Z | - |
dc.date.available | 2009-07-28T08:16:03Z | - |
dc.date.issued | 2007 | - |
dc.identifier.uri | http://hdl.handle.net/10419/26110 | - |
dc.description.abstract | Motivated by the observed international reserve hoarding behavior in the post-1997 crisis period, we explore the Mrs Machlup's wardrobe hypothesis and the related keeping up with the Joneses argument. It is conceived that, in addition to psychological reasons, holding a relatively high level of international reserves reduces the vulnerability to speculative attacks and promotes growth. A stylized model is constructed to illustrate this type of hoarding behavior. The relevance of the keeping up with the Joneses effect is examined using a few plausible empirical specifications and data from 10 East Asian economies. Panel-based regression results are suggestive of the presence of the Joneses effect; especially in the post-1997 crisis period. Individual economy estimation results, however, show that the Joneses effect varies across economies. | en |
dc.language.iso | eng | en |
dc.publisher | |aCenter for Economic Studies and ifo Institute (CESifo) |cMunich | en |
dc.relation.ispartofseries | |aCESifo Working Paper |x2065 | en |
dc.subject.jel | F3 | en |
dc.subject.jel | F4 | en |
dc.subject.ddc | 330 | en |
dc.subject.stw | Währungsreserven | en |
dc.subject.stw | Nachfrage | en |
dc.subject.stw | Konsuminterdependenz | en |
dc.subject.stw | Devisenspekulation | en |
dc.subject.stw | Wirtschaftswachstum | en |
dc.subject.stw | Schätzung | en |
dc.subject.stw | Welt | en |
dc.subject.stw | Ostasien | en |
dc.title | Hoarding of international reserves: Mrs Machlup's wardrobe and the joneses | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 538350024 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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