Title Jordan's international reserve position : justifiably strong / prepared by Saade Chami, Donal McGettigan, and Stanley Watt

Published [Washington, D.C.] : International Monetary Fund, Middle East and Central Asia Dept., ©2007

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Description 1 online resource (19 pages) : illustrations Series IMF working paper ; WP/07/103 IMF working paper ; WP/07/103. Summary Jordan has seen a large increase in its international reserve holdings in recent years. While a healthy reserve buffer is needed under a fixed exchange rate regime, determining optimal reserve levels is not straightforward. In this paper, we first use several traditional measures of reserves adequacy to compare Jordan's reserve holdings with other emerging market (EM) countries. Subsequently, we analyze Jordan's reserve holdings using a reserves-optimizing model, based on Jeanne and Ranciere (2006) (J-R), but extended to allow reserve holdings to influence the likelihood of a sudden stop. The overall analysis suggests that Jordan's reserve holdings provide sufficient support to sustain the dinar peg and to deal with the most extreme capital account disruptions Bibliography Includes bibliographical references (pages 18-19) Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Foreign exchange -- Jordan -- Econometric models Foreign exchange rates -- Jordan -- Econometric models Bank reserves -- Jordan -- Econometric models Capital movements -- Jordan -- Econometric models Bank reserves -- Econometric models Capital movements -- Econometric models Foreign exchange -- Econometric models Foreign exchange rates -- Econometric models Jordan Form Electronic book Author McGettigan, Donal, author. Watt, Stanley, author. International Monetary Fund. Middle East and Central Asia Department. ISBN 1283515504 9781283515504

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