Showing papers on "Proxy (statistics) published in 1970"
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TL;DR: In this paper, the use of (FIR)j, foreign exchange of country i, relative to total reserves of country y as a proxy for (D/R) i; 1 dollar-denominated foreign currency of country Y relative to the total reserve of Y, is discussed.
Abstract: Helmut A. Hagemann has provided a useful analysis of reserve policies of central banks in his recent article in this Review. However, I am afraid that the unavailability of data has led him into wishful thinking about the value of the dependent variables in his exercise. I refer specifically to the use of (FIR)j, foreign exchange of country i, relative to total reserves of country i as a proxy for (D/R) i;1 dollar-denominated foreign exchange of country i, relative to total reserves of country i. Let us consider what distortions may arise from using (FIR), where (DIR)i ought to be. Let:
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