Jordan's International Reserve Position: Justifiably Strong
Jordan has seen a large increase in its international reserve holdings in recent years. While a healthy reserve buffer is needed under a fixed exchange rate regime, determining optimal reserve levels is not straightforward. In this paper, we first use several traditional measures of reserves adequac...
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1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2007
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Schriftenreihe: | IMF Working Papers
Working Paper No. 07/103 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | Jordan has seen a large increase in its international reserve holdings in recent years. While a healthy reserve buffer is needed under a fixed exchange rate regime, determining optimal reserve levels is not straightforward. In this paper, we first use several traditional measures of reserves adequacy to compare Jordan''s reserve holdings with other emerging market (EM) countries. Subsequently, we analyze Jordan''s reserve holdings using a reserves-optimizing model, based on Jeanne and Ranciere (2006) (J-R), but extended to allow reserve holdings to influence the likelihood of a sudden stop. The overall analysis suggests that Jordan''s reserve holdings provide sufficient support to sustain the dinar peg and to deal with the most extreme capital account disruptions |
Beschreibung: | 1 Online-Ressource (19 p) |
ISBN: | 1451866674 9781451866674 |
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spelling | Watt, Stanley Verfasser aut Jordan's International Reserve Position Justifiably Strong Watt, Stanley Washington, D.C International Monetary Fund 2007 1 Online-Ressource (19 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 07/103 Jordan has seen a large increase in its international reserve holdings in recent years. While a healthy reserve buffer is needed under a fixed exchange rate regime, determining optimal reserve levels is not straightforward. In this paper, we first use several traditional measures of reserves adequacy to compare Jordan''s reserve holdings with other emerging market (EM) countries. Subsequently, we analyze Jordan''s reserve holdings using a reserves-optimizing model, based on Jeanne and Ranciere (2006) (J-R), but extended to allow reserve holdings to influence the likelihood of a sudden stop. The overall analysis suggests that Jordan''s reserve holdings provide sufficient support to sustain the dinar peg and to deal with the most extreme capital account disruptions Online-Ausg Chami, Saade Sonstige oth McGettigan, Donal Sonstige oth http://elibrary.imf.org/view/IMF001/04068-9781451866674/04068-9781451866674/04068-9781451866674.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Watt, Stanley Jordan's International Reserve Position Justifiably Strong |
title | Jordan's International Reserve Position Justifiably Strong |
title_auth | Jordan's International Reserve Position Justifiably Strong |
title_exact_search | Jordan's International Reserve Position Justifiably Strong |
title_exact_search_txtP | Jordan's International Reserve Position Justifiably Strong |
title_full | Jordan's International Reserve Position Justifiably Strong Watt, Stanley |
title_fullStr | Jordan's International Reserve Position Justifiably Strong Watt, Stanley |
title_full_unstemmed | Jordan's International Reserve Position Justifiably Strong Watt, Stanley |
title_short | Jordan's International Reserve Position |
title_sort | jordan s international reserve position justifiably strong |
title_sub | Justifiably Strong |
url | http://elibrary.imf.org/view/IMF001/04068-9781451866674/04068-9781451866674/04068-9781451866674.xml |
work_keys_str_mv | AT wattstanley jordansinternationalreservepositionjustifiablystrong AT chamisaade jordansinternationalreservepositionjustifiablystrong AT mcgettigandonal jordansinternationalreservepositionjustifiablystrong |