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| Author: | Bahmani-Oskooee, M. Niroomand, F. |
| Title: | On the exchange-rate elasticity of the demand for international reserves: some evidence from industrial countries |
| Journal: | Weltwirtschaftliches Archiv
1988 : VOL. 124:1, p.161-168 |
| Index terms: | INTERNATIONAL RESERVES FLOATING RATES |
| Language: | eng |
| Abstract: | Hipple (1982) argued that "if a nation is willing to change its exchange rate frequently, it will have a reduced need for reserves". The present paper investigates this problem empirically by incorporating the real effective exchange rate into a standard reserve demand equation. The model is estimated for 13 countries. Results support the theoretical argument of previous studies. |
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