IMF Staff papers : Volume 25 No. 1.
This paper considers whether the objective of controlling aggregate reserves is still appropriate under current international monetary arrangements and discusses some of the means that have been proposed to achieve such control. Both the demand for and the supply of world reserves have changed as a...
| Tác giả của công ty: | |
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| Định dạng: | Tạp chí |
| Ngôn ngữ: | English |
| Được phát hành: |
Washington, D.C. :
International Monetary Fund,
1978.
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| Loạt: | IMF Staff Papers; IMF Staff Papers ;
No. 1978/001 |
| Truy cập trực tuyến: | Full text available on IMF |
| Tóm tắt: | This paper considers whether the objective of controlling aggregate reserves is still appropriate under current international monetary arrangements and discusses some of the means that have been proposed to achieve such control. Both the demand for and the supply of world reserves have changed as a result of the shift to flexible exchange rates and the growth of private capital markets as means of financing payments disequilibria. Mechanisms designed to achieve greater control over reserve growth would have to rely on direct constraints on individual countries. The desirability of imposing such constraints must be assessed in the light of how effective liquidity control can be in achieving the objective of more timely and effective adjustment. In this connection, the surveillance of exchange rate policies provided for in the IMF's Proposed Second Amendment to the Articles of Agreement may be a more effective weapon than direct control of liquidity. |
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| Mô tả sách: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Mô tả vật lý: | 1 online resource (234 pages) |
| Định dạng: | Mode of access: Internet |
| số ISSN: | 1020-7635 |
| Truy cập: | Electronic access restricted to authorized BRAC University faculty, staff and students |