Are the adjustment of actual to desired international reserves in nominal or real terms?
Mohsen Bahmani-Oskooee ()
Applied Economics Letters, 1999, vol. 6, issue 9, 573-575
In this note we employ two procedures to determine whether the adjustment of international reserves is in real or nominal terms. Using panel data from 17 DCs and 16 LDCs, we show that adjustment of actual reserves to their desired level is indeed in nominal terms.
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