Composite reserve assets in the international monetary system /

By:

Dreyer, Jacob S

Material type: Text

TextSeries: 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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Holdings
Item type	Current library	Collection	Call number	Status	Date due	Barcode
Monograph & others	CBN HQ Library General Stacks	Non-fiction	332.4'5 DRE (Browse shelf(Opens below))	Available		31008100152756

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Previous	332.4'5 CHE Essentials of foreign exchange trading /	332.4'5 COH Organizing the world's money :	332.4'5 CON The rationale of the sterling area :	332.4'5 DRE Composite reserve assets in the international monetary system /	332.4'5 ECO The Economics of exchange rates :	332.4'5 ECO The economics of international adjustment /	332.4'5 ECO The economics of international adjustment /	Next

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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