Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/64043 
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dc.contributor.authorAizenman, Joshuaen
dc.contributor.authorRiera-Crichton, Danielen
dc.date.accessioned2009-07-14-
dc.date.accessioned2012-09-21T11:54:04Z-
dc.date.available2012-09-21T11:54:04Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/64043-
dc.description.abstractThis paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange rate (REER). We observe that international reserves cushions the impact of TOT shocks on the REER, and that this effect is important for developing but not for industrial countries. This buffer effect is especially significant for Asian countries, and for countries exporting natural resources. Financial depth reduces the buffer role of IR in developing countries. Developing countries REER seem to be more sensitive to changes in reserve assets; whereas industrial countries display a significant relationship between hot money and REER.en
dc.language.isoengen
dc.publisher|aUniversity of California, Santa Cruz Institute for International Economics (SCIIE) |cSanta Cruz, CAen
dc.relation.ispartofseries|aWorking Paper |x06-07en
dc.subject.jelF15en
dc.subject.jelF21en
dc.subject.jelF32en
dc.subject.jelF36en
dc.subject.ddc330en
dc.subject.keywordreal exchange rateen
dc.subject.keywordterms of tradeen
dc.subject.keywordinternational reservesen
dc.subject.keywordvolatilityen
dc.subject.keywordshock absorberen
dc.subject.stwKaufkraftparitäten
dc.subject.stwWährungsreservenen
dc.subject.stwTerms of Tradeen
dc.subject.stwVolatilitäten
dc.subject.stwWelten
dc.titleReal exchange rate and international reserves in an era of growing financial and trade integration-
dc.typeWorking Paperen
dc.identifier.ppn604627483en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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