Central Bank of Nigeria Library

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Composite reserve assets in the international monetary system /

By: Material type: TextTextSeries: Contemporary studies in economic and financial analysisPublication details: Greenwich, Conn. : JAI Press, 1977.Description: xvi, 191 p. :illISBN:
  • 0892320036 :
Subject(s): DDC classification:
  • 332.4'5 DRE
LOC classification:
  • HG3898 .D73
Summary: This book focuses on the implications of alternative techniques of valuation of the SDR both for reserve composition and management and for the operation of the SDR as a "pivot. " It then describes the conditions for stability of the composition of reserve portfolios in a two-asset model, including the effects of changes in the yield on SDRs and in their quantity. Two of the major conclusions reached in the study are (1) that it would be preferable to have an explicit technique for maintaining the currency value of the SDR, rather than define the SDR so that its currency value can fluctuate, as is currently the case with the "standard basket" definition of the SDR, and (2) changing the stock of SDRs, rather than their rate of return, is the preferable method for achieving a stable composition of assets in countries' reserve portfolios.
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Item type Current library Collection Call number Status Date due Barcode
Monograph & others Monograph & others CBN HQ Library General Stacks Non-fiction 332.4'5 DRE (Browse shelf(Opens below)) Available 31008100152756

Includes index.

Bibliography: p. 183-186.

This book focuses on the implications of alternative techniques of valuation of the SDR both for reserve composition and management and for the operation of the SDR as a "pivot. " It then describes the conditions for stability of the composition of reserve portfolios in a two-asset model, including the effects of changes in the yield on SDRs and in their quantity. Two of the major conclusions reached in the study are (1) that it would be
preferable to have an explicit technique for maintaining the currency value of the SDR, rather than define the SDR so that its currency value can fluctuate, as is currently the case with the "standard basket" definition of the SDR, and (2) changing the stock of SDRs, rather than their rate of return, is the preferable method for achieving a stable composition of assets in countries' reserve portfolios.

usc 15/08/18

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