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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...
| Call Number: | Libro Electrónico |
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| Main Author: | |
| Other Authors: | |
| Format: | Electronic eBook |
| Language: | Inglés |
| Published: |
Washington, D.C. :
International Monetary Fund,
2006.
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| Series: | IMF Working Papers ;
Working Paper no. 06/229. |
| Subjects: | |
| Online Access: | Texto completo |