Distinguishing global dollar reserves from official holdings in the United States

Robert McCauley

BIS Quarterly Review, 2005

Abstract: Official holdings of US dollar reserves are partly invested outside the United States. These offshore investments do not strictly speaking finance the US current account, but do support the US dollar. Offshore holdings grow fast when intervention is large.

JEL-codes: E58 F21 F31 F32 F33 F34 G15 N20 (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (15)

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