The "Hard" SDR: An Exploratory Analysis
Summary:
There has been considerable interest in recent years in the possibility of hardening the SDR, motivated by the desire for an international yardstick of monetary stability. This paper explores various ideas aimed at hardening the SDR in the light of the previous debate on the valuation of the SDR. The paper shows that the construction and implementation of a “hard” SDR which would preserve its purchasing power over goods and services is technically feasible and illustrates this by monthly computations covering the period from July 1974 to July 1993.
Series:
Working Paper No. 1994/025
Subject:
Commodities Currencies Depreciation Inflation Money National accounts Prices Purchasing power
Notes:
Construction and computation of a "hard SDR basket" is illustrated on a monthly basis for the period from July 1974 to July 1993. Also published in Staff Papers, Vol. 41, No. 3, September 1994.
English
Publication Date:
March 1, 1994
ISBN/ISSN:
9781451920796/1018-5941
Stock No:
WPIEA0251994
Pages:
58
Please address any questions about this title to publications@imf.org