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International Reserve Management under Rollover Crises / Mauricio Barbosa-Alves, Javier Bianchi, César Sosa-Padilla.
- Format:
- Book
- Author/Creator:
- Barbosa-Alves, Mauricio.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w32393.
- NBER working paper series no. w32393
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2024.
- Summary:
- This paper develops a framework to study the management of international reserves when a government faces the risk of a rollover crisis. In the model, it is optimal for the government to reduce its vulnerability by initially lowering debt, and then increasing both debt and reserves as it approaches a safe zone. Furthermore, we find that issuing additional debt to accumulate reserves can lead to a reduction in sovereign spreads.
- Notes:
- Print version record
- May 2024.
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