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Sudden stops and optimal self-insurance /
This paper presents a simple model of optimal reserves that can be easily calibrated to compute optimal reserves as well as the implied probability of a sudden stop for given reserves. The model builds upon the global games framework of Morris and Shin to establish a unique relationship between the...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund, Research Dept.,
[2008]
|
| Colección: | IMF working paper ;
WP/08/144. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Kim, Jun |q (Jun Il), |e author. |1 https://id.oclc.org/worldcat/entity/E39PCjDTDhWJyJVtPHPfcbpvBP | |
| 245 | 1 | 0 | |a Sudden stops and optimal self-insurance / |c prepared by Jun Il Kim. |
| 264 | 1 | |a Washington, D.C. : |b International Monetary Fund, Research Dept., |c [2008] | |
| 264 | 4 | |c ©2008 | |
| 300 | |a 1 online resource (34 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
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| 490 | 1 | |a IMF working paper ; |v WP/08/144 | |
| 504 | |a Includes bibliographical references (page 34). | ||
| 520 | 3 | |a This paper presents a simple model of optimal reserves that can be easily calibrated to compute optimal reserves as well as the implied probability of a sudden stop for given reserves. The model builds upon the global games framework of Morris and Shin to establish a unique relationship between the probability of a sudden stop and the level of reserves. The calibration results for 15 selected emerging market countries in Latin America, Asia and other regions over the sample period of 1993-2006 suggest that the risk of sudden stops may have declined to a low level in recent years in all countries in the sample. The results also suggest that Asia and Russia may have been significantly over insured since early 2000s with estimated excess reserves of US$ 1 trillion in total at end-2006. | |
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a I. Introduction; II. The Model; III. Model Calibration; IV. Concluding Remarks; Text Tables; 1. Actual and Calibrated Optimal Reserves for Selected EM Countries: 1993-2006; 2. Implied Probability of a Sudden Stop for Selected EM Countries: 1994-2007; 3. IMF Arrangements for Selected EM Countries: 1993-2006; Text Figures; 1. Actual and Calibrated Optimal Reserves for Selected EM Countries: 1993-; A. Latin America; B. Asia, Russia and Turkey; 2. Implied Probability of a Sudden Stop for Selected EM Countries: 1994-; A. Latin America; B. Asia, Russia and Turkey. | |
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified]: |c HathiTrust Digital Library. |d 2024. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
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| 650 | 0 | |a Bank reserves |z Developing countries |x Econometric models. | |
| 650 | 0 | |a Financial crises |z Developing countries |x Econometric models. | |
| 650 | 0 | |a Bank reserves |z Developing countries. | |
| 650 | 6 | |a Banques |x Réserves |z Nouveaux pays industrialisés. | |
| 650 | 6 | |a Crises financières |z Nouveaux pays industrialisés |x Modèles économétriques. | |
| 650 | 7 | |a Bank reserves |2 fast | |
| 650 | 7 | |a Bank reserves |x Econometric models |2 fast | |
| 650 | 7 | |a Financial crises |x Econometric models |2 fast | |
| 651 | 7 | |a Developing countries |2 fast | |
| 650 | 7 | |a Währungsreserven. |2 stw | |
| 650 | 7 | |a Internationale Kapitalmobilität. |2 stw | |
| 655 | 4 | |a Computer network resources. | |
| 710 | 2 | |a International Monetary Fund. |b Research Department. | |
| 758 | |i has work: |a Sudden stops and optimal self-insurance (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGw4bT9vRB9YgfWgptTd73 |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Kim, Jun (Jun Il). |t Sudden stops and optimal self-insurance. |d Washington, D.C. : International Monetary Fund, Research Dept., 2008 |w (OCoLC)244486625 |
| 830 | 0 | |a IMF working paper ; |v WP/08/144. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1607890 |z Texto completo |
| 880 | 0 | |6 505-00/(S |a Contents -- I. Introduction -- II. The Model -- III. Model Calibration -- IV. Concluding Remarks -- Text Tables -- 1. Actual and Calibrated Optimal Reserves for Selected EM Countries: 1993-2006 -- 2. Implied Probability of a Sudden Stop for Selected EM Countries: 1994-2007 -- 3. IMF Arrangements for Selected EM Countries: 1993-2006 -- Text Figures -- 1. Actual and Calibrated Optimal Reserves for Selected EM Countries: 1993- -- A. Latin America -- B. Asia, Russia and Turkey -- 2. Implied Probability of a Sudden Stop for Selected EM Countries: 1994- -- A. Latin America -- B. Asia, Russia and Turkey -- 3. Actual θ and Default Threshold θ* for Selected EM Countries: 1993- -- A. Latin America -- B. Asia, Russia and Turkey -- 4. Sources of Reserve Accumulation for Selected EM Countries: 1993- -- A. Latin America -- B. Asia, Russia and Turkey -- Appendix: Creditor Coordination Problem -- References. | |
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