Hoarding of International Reserves: Mrs Machlup's Wardrobe and the Joneses

Motivated by the observed international reserve hoarding behavior in the post‐1997 crisis period, we explore the Mrs Machlup's Wardrobe hypothesis and the related keeping up with the Joneses argument. It is conceived that, in addition to psychological reasons, holding a relatively high level of...

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Veröffentlicht in:	Review of international economics 2009-09, Vol.17 (4), p.824-843
Hauptverfasser:	Cheung, Yin-Wong, Qian, Xingwang
Format:	Artikel
Sprache:	eng
Schlagworte:	Economic policy Economic theory Hoarding disorder Hypotheses International trade Reserve assets Studies
Online-Zugang:	Volltext
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