How central banks prepare for financial crises – An empirical analysis of the effects of crises and globalisation on international reserves

Central banks' international reserve holdings have increased significantly in the recent past. While traditional models fail to explain this accumulation of reserves, the more recent literature argues that reserves are used as a lifejacket against financial crises. However, research so far has neglected the question whether and how central banks change their precautionary reserve holdings after the country was affected by a financial crisis.

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Year of publication:	2013
Authors:	Steiner, Andreas
Published in:	Journal of International Money and Finance. - Elsevier, ISSN 0261-5606. - Vol. 33.2013, C, p. 208-234
Publisher:	Elsevier
Subject:	International reserves \| Financial crises \| Precautionary demand

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Type of publication:	Article
Classification:	E58 - Central Banks and Their Policies ; F31 - Foreign Exchange ; F36 - Financial Aspects of Economic Integration ; F41 - Open Economy Macroeconomics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010636245