IDEAS home Printed from https://ideas.repec.org/h/spr/sptchp/978-3-662-49862-0_23.html
   My bibliography  Save this book chapter

International Liquidity, the Demand for International Reserves, and Xeno-Markets

In: International Finance and Open-Economy Macroeconomics

Author

Listed:
  • Giancarlo Gandolfo

    (Accademia Nazionale dei Lincei)

Abstract

As we have already mentioned above (Sect. 22.4 ), international liquidity and international reserves are often used as synonyms, although they are not. International reserves are financial assets representing liquid international purchasing power in the hands of the monetary authorities. International liquidity is a broader concept and also includes access to loans as well as the monetary authorities’ ability to convert illiquid assets into liquid purchasing power through international asset markets. A further distinction is made between “owned” and “borrowed” reserves. The former, unlike the latter, have no offsetting foreign liability of the monetary authorities. There is a last distinction to be recalled: that between official and private international liquidity. The former only includes liquid international assets held by the monetary authorities, while the latter includes all the foreign liquid assets held by residents of the country.

Suggested Citation

  • Giancarlo Gandolfo, 2016. "International Liquidity, the Demand for International Reserves, and Xeno-Markets," Springer Texts in Business and Economics, in: International Finance and Open-Economy Macroeconomics, edition 2, chapter 23, pages 601-633, Springer.
    • Handle: RePEc:spr:sptchp:978-3-662-49862-0_23
    DOI: 10.1007/978-3-662-49862-0_23
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sptchp:978-3-662-49862-0_23. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.