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:: year 4, Issue 9 (fall 2011) ::
JMBR 2011, 4(9): 117-146 Back to browse issues page
Optimal Management of Foreign Reserves Portfolio The Case Study: Official Reserves of the Central Bank of I.R. of Iran
Mohammad Vaez 1, Saeid Daee Karimzade , Gholamhossin Karimian
Abstract:   (3419 Views)

 Concentrating on the international conditions of Iran economy in recent years، exhibits extensive economic sanctions as well as variations in crude oil prices. It shows the effect of unanticipated factors under above condition on official foreign reserves. In order to achieve macroeconomic targets، we study the feasibility of optimal policy for foreign reserves combinations.
Using Mean-Variance approach، we try to simulate official foreign reserves in Iranian economy within the period of 1999-2007.
The results show that the average share of the U.S Dollar and Pound were more than its optimum share، while the average shares of the Euro and Yen were less than their optimum shares.

JEL Classification: F31, F34

Keywords: Foreign Exchange, Foreign Reserves, Foreign Debt
Full-Text [PDF 264 kb]   (1304 Downloads)    
Type of Study: Empirical Study |
Received: 2014/08/5 | Accepted: 2014/08/5 | Published: 2014/08/5
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year 4, Issue 9 (fall 2011) Back to browse issues page
فصلنامه پژوهش‌های پولی-بانکی Journal of Monetary & Banking Research
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