Optimal Reserves in Financially Closed Economies /

Financially closed economies insure themselves against current-account shocks using international reserves. We characterize the optimal management of reserves using an open-economy model of precautionary savings and emphasize several results. First, the welfare-based opportunity cost of reserves dif...

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Bibliografiske detaljer
Hovedforfatter: Jeanne, Olivier
Andre forfattere: Sandri, Damiano
Format: Tidsskrift
Sprog:English
Udgivet: Washington, D.C. : International Monetary Fund, 2016.
Serier:IMF Working Papers; Working Paper ; No. 2016/092
Online adgang:Full text available on IMF

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