Article ID Journal Published Year Pages File Type
5060937 Economics Letters 2011 4 Pages PDF
Abstract
► We test the theory of Machlup (1966) as a motive of holding international reserves. ► The presence of a Mrs. Machlup wardrobe behavior in hoarding reserves is observed. ► Reserve accumulation is driven by a desire to keep up with neighboring countries.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
Regime dependence, Mrs. Machlup's wardrobe and the accumulation of international reserves in Asia
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