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dc.contributor.authorVera, Leonardo
dc.contributor.authorZambrano Sequín, Luis
dc.descriptionBased on a standard set of factors pointed out by the literature we analyze the recent and rapid accumulation of international reserves in Venezuela. Among other things, we characterize the Venezuelan case and conduct a statistical analysis using a quarterly time series model between 1996 and 2004. The specification follows closely Aizenman and Marion (2002). Both a static and dynamic econometric version of the model allows us to report some of the factors that influence the decision to hold foreign exchange reserves. When we calculate the adequate level of reserves, using the econometric specifications, we found that excess reserves are not currently high and that the results do not diverge much from the traditional Heller’s methodology. Finally, we undertake an evaluation of the alternatives pointed out for excess reserves manage-ment in Venezuela.es_CL
dc.rightsAttribution 3.0 Unportedes_CL
dc.subject.lcshReservas de dineroes_CL
dc.titlevelocity and Money Demand in an Economy with Cash and Credit Goodses_CL

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Attribution 3.0 Unported
Except where otherwise noted, this item's license is described as Attribution 3.0 Unported

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