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OFFICIAL RESERVES AND CURRENCY MANAGEMENT IN ASIA: MYTH, REALITY AND THE FUTURE; HANS GENBERG...ET AL

Hans Genbert, Robert mccauley, Yung Chul Park, Avinash Persaud

Addressing the questions related to accumulation of reserves in East Asia, this book provides some conclusions. It says that: the reserve build up is not driven by deliberately undervalued exchange rates; and the autonomous exchange rate adjustment is not an efficient method, to deal with account imbalances between the United States and East Asia.

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