| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 965098 | Journal of the Japanese and International Economies | 2013 | 22 Pages |
Abstract
⺠We explain the curious patterns of gold holding and trading by central banks. ⺠The intensity of holding gold is correlated with 'global power'. ⺠Gold position signals economic might. ⺠Gold retains the stature of a 'safe haven' asset at times of global turbulence. ⺠The under-reporting of gold positions in the international reserve statistics is consistent with loss aversion.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Joshua Aizenman, Kenta Inoue,