Corresponding author: Olivier Jeanne, Johns Hopkins University, Mergenthaler Hall 454, 3400 N. Charles Street, Baltimore MD 21218, USA. Email: firstname.lastname@example.org.
The Optimal Level of International Reserves For Emerging Market Countries: A New Formula and Some Applications*
Article first published online: 2 JUN 2011
© 2011 The Author(s). The Economic Journal © 2011 Royal Economic Society
The Economic Journal
Volume 121, Issue 555, pages 905–930, September 2011
How to Cite
Jeanne, O. and Rancière, R. (2011), The Optimal Level of International Reserves For Emerging Market Countries: A New Formula and Some Applications. The Economic Journal, 121: 905–930. doi: 10.1111/j.1468-0297.2011.02435.x
This article is a substantially revised version of ‘The optimal level of reserves for emerging market countries: formulas and applications’ (IMF Working paper 06/98). It benefited from comments by Fernando Goncalves, Alejandro Izquierdo, Herman Kamil, Linda Goldberg, Paolo Mauro, Paolo Pesenti, Eric Van Wincoop, seminar participants at the World Bank, the IMF, the Federal Reserve of New York, ECARES, the University of Maryland, the Banque de France, the Inter-American Development Bank and the 2008 Annual Meetings of the American Economic Association. We also thank Andrew Scott and two anonymous referees for comments on an earlier version. A first draft of this article was completed while Olivier Jeanne was visiting the Department of Economics of Princeton University, whose hospitality is gratefully acknowledged.
- Issue published online: 20 SEP 2011
- Article first published online: 2 JUN 2011
- Submitted: 9 February 2009 , Acceptd: 5 September 2010
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