NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Exchange Market Pressure and Absorption by International Reserves: Emerging Markets and Fear of Reserve Loss During the 2008-09 Crisis

Joshua Aizenman, Michael M. Hutchison

NBER Working Paper No. 16260
Issued in September 2010

---- Acknowledgements -----

We are grateful to Vladyslav Sushko and Yuhan Xue for the excellent research assistance. Any errors are ours. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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