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The British Foreign Exchange Reserves Puzzle [PDF]
, 2003 The British foreign exchange reserves decreased by 40 percent during the period August 1996-December 1999 although the Pound Sterling is considered a floating exchange rate since it left the EMS in 1992. Since changes in the level of foreign exchange reserves are usually taken as indicators for foreign exchange interventions in the economic literature ...
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Foreign exchange reserves in a credit constrained economy [PDF]
International Economics, 2012 cet article traite du rôle des réserves de change en tant qu’épargne de précaution dans un cadre de marché imparfait, dû à la présence de contraintes de crédit déterminées de façon endogène. nous montrons que le coût de détention des réserves est plus élevé en présence de contraintes sur le crédit, en raison de l’effet de levier de la dette ...
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External shocks, financial markets and the real economy: Policy options in South Africa
South African Journal of Economic and Management Sciences, 2000 The paper considers the transmission of an external shock through the bond, equity, money and foreign exchange markets and, depending on the nature and duration of the shock, the attendant effects on various sectors of the South African economy. While it
R. A. Stuart, P. A. Black
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Entropy, 2022 This paper models the foreign exchange intervention policy following the Rayleigh process derived from the standard flexible-price monetary framework. The exchange rate dynamics associated with the interventions are more sensitive to the change in the ...
Cho-Hoi Hui, Chi-Fai Lo, Chi-Hei Liu
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Currency composition of foreign exchange reserves [PDF]
Journal of International Money and Finance, 2020 Abstract This paper analyses the factors that govern the choice of the currency composition of official foreign exchange reserves. First, we introduce a new panel dataset on the key currencies in foreign exchange reserves of about 60 economies in the 1999–2017 period.
Hiro Ito, Robert N. McCauley
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The Cost of Holding Foreign Exchange Reserves [PDF]
, 2020 Recent studies that have emphasized that the costs of accumulating reserves for self-insurance purposes have overlooked two potentially important side effects. First, the impact of the resulting lower spreads on the service costs of the stock of sovereign debt, which could substantially reduce the marginal cost of holding reserves. Second, when reserve
Eduardo Levy-Yeyati +1 more
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DETERMINANTS OF FOREIGN EXCHANGE RESERVES IN INDIA
International Journal of Research -GRANTHAALAYAH, 2021 Motivation/Background: A country holds foreign exchange reserves for maintaining liquidity and safety. The country possess certain amount of foreign reserves to meet their day to day operations and to meet the unforeseen contingencies. The optimum level of reserves helps a country to be self-reliant and have a self-sufficiency to meet their payment ...
Aman Verma, Suman Bhakri
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Buletin Ekonomi Moneter dan Perbankan, 2015 This paper analyzes the macroprudential policy by the central bank to maintain the financial system stability. Using panel data of the government banks, foreign, private, joint venture, and regional development banks during 2004- 2012, we employ Vector ...
Muhammad Edhie Purnawan, M. Abd. Nasir
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Treasury and Federal Reserve Foreign Exchange Operations [PDF]
Federal Reserve Bulletin, 2001 During the third quarter of 2001, the dollar depreciated 7.3 percent against the euro and 4.1 percent against the yen. On a trade-weighted basis, the dollar ended the quarter 2.6 percent lower. Economic data released even before the terrorist attacks on September 11 suggested that the U.S.
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Engineering peptides into antibodies—opportunities and strategies for therapeutic innovation
FEBS Letters, EarlyView.Peptides and antibodies occupy complementary therapeutic niches. Peptides recognize difficult targets in a compact format, while antibodies add specificity, long half‐life, and effector functions. This review examines strategies that merge both modalities—peptide grafting into loops, terminal and Fc fusions, and bioconjugation—highlighting how ...
Jinling Wang +2 more
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