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The Optimal Level of International Reserves for Emerging Market Countries : Formulas and Applications. /
We present a model of the optimal level of international reserves for a small open economy that is vulnerable to sudden stops in capital flows. Reserves allow the country to smooth domestic absorption in response to sudden stops, but yield a lower return than the interest rate on the country's...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2006.
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| Colección: | IMF Working Papers ;
Working Paper no. 06/229. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Ranciere, Romain. | |
| 245 | 1 | 4 | |a The Optimal Level of International Reserves for Emerging Market Countries : |b Formulas and Applications. / |c Ranciere, Romain. |
| 260 | |a Washington, D.C. : |b International Monetary Fund, |c 2006. | ||
| 300 | |a 1 online resource (33 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF Working Papers, |x 2227-8885 ; |v Working Paper No. 06/229 | |
| 520 | 3 | |a We present a model of the optimal level of international reserves for a small open economy that is vulnerable to sudden stops in capital flows. Reserves allow the country to smooth domestic absorption in response to sudden stops, but yield a lower return than the interest rate on the country's long-term debt. We derive a formula for the optimal level of reserves, and show that plausible calibrations can explain reserves of the order of magnitude observed in many emerging market countries. However, the recent buildup of reserves in Asia seems in excess of what would be implied by an insurance motive against sudden stops. | |
| 588 | 0 | |a Print version record. | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Balance of payments. | |
| 650 | 0 | |a Foreign exchange administration. | |
| 650 | 6 | |a Balance des paiements. | |
| 650 | 6 | |a Change |x Administration. | |
| 650 | 7 | |a Balance of payments |2 fast | |
| 650 | 7 | |a Foreign exchange administration |2 fast | |
| 700 | 1 | |a Jeanne, Olivier. | |
| 700 | 1 | |a Ranciere, Romain. | |
| 758 | |i has work: |a The optimal level of international reserves for emerging market countries (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGkCJxFVgQmdwg6fpf9yHP |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print Version: |z 9781451909425 |
| 830 | 0 | |a IMF Working Papers ; |v Working Paper no. 06/229. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=3014405 |z Texto completo |
| 938 | |a EBL - Ebook Library |b EBLB |n EBL3014405 | ||
| 994 | |a 92 |b IZTAP | ||