Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
963004 | Journal of International Economics | 2012 | 19 Pages |
Abstract
⺠We estimate the actively managed component of foreign currency reserves. ⺠Many pre-crisis active reserve accumulators depleted reserves during the crisis. ⺠Accumulators returned to their pre-crisis reserve growth trends after the crisis. ⺠Real GDP recovery was stronger for countries with large pre-crisis accumulations. ⺠Recovery and reserves remain positively related controlling for pre-crisis growth.
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Authors
Kathryn M.E. Dominguez, Yuko Hashimoto, Takatoshi Ito,