Choice of Parameters of a Parity Rate and Gold and Foreign Currency Reserves

E. Avdokushin and E. Ivanova

Voprosy Ekonomiki, 2004, issue 11

Abstract: Questions of the choice of parameters of real currency rate and size and structure of gold and foreign currency reserves for the countries with unconvertible currency are considered in the article. It is proposed to search for optimum currency rate on the basis of minimizing probabilistic characteristics of damage from the sum of two kinds of inflation — evolutionary and interventionist. The optimal total size and structure of gold and foreign currency reserves can be calculated on the basis of the probabilistic distribution "efficiency-risk" received as a result of the decision of the problem of searching optimal distribution by a share in an investment portfolio with one nonlinear share. The minimum of damage from service of reserves is taken as a criterion of optimality.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2004:id:1968

DOI: 10.32609/0042-8736-2004-11-76-91

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