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  • 标题:Determinants of foreign exchange reserves in Serbia and North Macedonia
  • 本地全文:下载
  • 作者:Bošnjak, Mile ; Bilas, Vlatka ; Kordić, Gordana
  • 期刊名称:Economic annals
  • 印刷版ISSN:0013-3264
  • 电子版ISSN:1820-7375
  • 出版年度:2020
  • 卷号:65
  • 期号:226
  • 页码:103-120
  • DOI:10.2298/EKA2026103B
  • 出版社:Faculty of Economics, Belgrade
  • 摘要:This paper employs a quantile regression approach to explore the determinants and properties of international foreign exchange reserves in Serbia and North Macedonia, at various foreign exchange levels. The observed period covers quarterly data for 2005q1-2019q1. The results reveal quantile-dependent determinants of foreign exchange reserves and enable comparison between the two countries, showing co-movements between monetary policy and economic fluctuations. Following the estimates obtained in this research, the paper compares the role of foreign exchange reserves in Serbia and North Macedonia.
  • 关键词:international foreign exchange reserves; quantile regression; foreign exchange rate; GDP; monetary aggregates
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