Holdings: Precautionary Reserves

Precautionary Reserves: An Application to Bolivia

Using precautionary savings models we compute levels of optimal reserves for Bolivia. Because of Bolivia''s reliance on commodity exports and little integration with capital markets, we focus on current account shocks as the key balance of payments risk. These models generate an optimal le...

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Main Author:	Valencia, Fabian (Author)
Format:	Electronic eBook
Language:	English
Published:	Washington, D.C International Monetary Fund 2010
Series:	IMF Working Papers Working Paper No. 10/54
Online Access:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext
Summary:	Using precautionary savings models we compute levels of optimal reserves for Bolivia. Because of Bolivia''s reliance on commodity exports and little integration with capital markets, we focus on current account shocks as the key balance of payments risk. These models generate an optimal level of net foreign assets ranging from 29 to 37 percent of GDP. For comparison purposes, we contrasted these results with standard rule of thumb measures of reserve adequacy, which in the case of Bolivia resulted in substantially lower levels of adequate reserves. These differing results emphasize the need to appropriately account for country-specific risks in order to derive adequate measures of reserve buffers
Physical Description:	1 Online-Ressource (25 p)
ISBN:	1451963505 9781451963502

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spelling	Valencia, Fabian Verfasser aut Precautionary Reserves An Application to Bolivia Valencia, Fabian Washington, D.C International Monetary Fund 2010 1 Online-Ressource (25 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 10/54 Using precautionary savings models we compute levels of optimal reserves for Bolivia. Because of Bolivia''s reliance on commodity exports and little integration with capital markets, we focus on current account shocks as the key balance of payments risk. These models generate an optimal level of net foreign assets ranging from 29 to 37 percent of GDP. For comparison purposes, we contrasted these results with standard rule of thumb measures of reserve adequacy, which in the case of Bolivia resulted in substantially lower levels of adequate reserves. These differing results emphasize the need to appropriately account for country-specific risks in order to derive adequate measures of reserve buffers Online-Ausg http://elibrary.imf.org/view/IMF001/10789-9781451963502/10789-9781451963502/10789-9781451963502.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Valencia, Fabian Precautionary Reserves An Application to Bolivia
title	Precautionary Reserves An Application to Bolivia
title_auth	Precautionary Reserves An Application to Bolivia
title_exact_search	Precautionary Reserves An Application to Bolivia
title_exact_search_txtP	Precautionary Reserves An Application to Bolivia
title_full	Precautionary Reserves An Application to Bolivia Valencia, Fabian
title_fullStr	Precautionary Reserves An Application to Bolivia Valencia, Fabian
title_full_unstemmed	Precautionary Reserves An Application to Bolivia Valencia, Fabian
title_short	Precautionary Reserves
title_sort	precautionary reserves an application to bolivia
title_sub	An Application to Bolivia
url	http://elibrary.imf.org/view/IMF001/10789-9781451963502/10789-9781451963502/10789-9781451963502.xml
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