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Applied Economics Letters Volume 26, 2019 - Issue 1
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Articles

Asymmetric stabilizing impact of international reserves

Dongwon LeeDepartment of Economics, University of California, Riverside, CA, USACorrespondence[email protected]
&
Kyungkeun KimThe Bank of Korea, Seoul, Republic of Korea
Pages 69-73 | Published online: 15 Feb 2018

References

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  • Chinn, M. D., and H. Ito. 2006. “What Matters for Financial Development? Capital Controls, Institutions, and Interactions.” Journal of Development Economics 81: 163–192. doi:10.1016/j.jdeveco.2005.05.010.
  • Devereux, M. B., and P. R. Lane. 2003. “Understanding Bilateral Exchange Rate Volatility.” Journal of International Economics 60: 109–132. doi:10.1016/S0022-1996(02)00061-2.
  • Driscoll, J. C., and A. C. Kraay. 1998. “Consistent Covariance Matrix Estimation with Spatially Dependent Panel Data.” Review of Economics and Statistics 80: 549–560. doi:10.1162/003465398557825.
  • Fratzscher, M. 2009. “What Explains Global Exchange Rate Movements during the Financial Crisis?” Journal of International Money and Finance 28: 1390–1407. doi:10.1016/j.jimonfin.2009.08.008.
  • Hviding, K., M. Nowak, and L. A. Ricci. 2004. “Can Higher Reserves Help Reduce Exchange Rate Volatility?” IMF Working Paper No. 04/189.
  • Ilzetzki, E., C. Reinhart, and K. Rogoff. 2017. Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold? NBER Working Paper No. 23134.
  • Rodrik, D. 2006. “The Social Cost of Foreign Exchange Reserves.” International Economic Journal 20: 253–266. doi:10.1080/10168730600879331.
  • Windmeijer, F. 2005. “A Finite Sample Correction for the Variance of Linear Efficient Two-Step GMM Estimators.” Journal of Econometrics 126: 25–51. doi:10.1016/j.jeconom.2004.02.005.

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