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The "Hard" SDR: An Exploratory Analysis
Author:
Mr. Subhash Madhav Thakur
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Series:
IMF Working Papers
Volume/Issue:
Volume 1994: Issue 025
Language:
English
Publication Date:
01 Mar 1994
DOI:
https://doi.org/10.5089/9781451920796.001
ISBN:
9781451920796
ISSN:
1018-5941
Pages:
58
Keywords:
WP; SDR; currency; value; ecu; unit of account; real value; basket currency; SDR inflation rate; SDR deflator; SDR allocation; SDR basket of currencies; SDR stable; SDR basket currency; Currencies; Purchasing power; Inflation; Depreciation
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 1994: Issue 025