The role of international reserves on real exchange rate: a panel data analysis
This article analyzes whether the accumulation of international reserves affects real exchange rates for a set of 57 economies. Panel ARDL estimations, for annual data from 1994 to 2017, show that higher (lower) levels of international reserves cause appreciation (depreciation) of exchange rate and...
| Main Authors: | , |
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| Format: | Article |
| Language: | Portuguese |
| Published: |
Universidade de São Paulo
2022-06-01
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| Series: | Economia Aplicada |
| Subjects: | |
| Online Access: | https://www.revistas.usp.br/ecoa/article/view/180445 |