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International Reserves and Rollover Risk

International Reserves and Rollover Risk »

Source: International Reserves and Rollover Risk

Volume/Issue: 2013/33

Series: IMF Working Papers

Author(s): Javier Bianchi , Juan Carlos Hatchondo , and Leonardo Martinez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 January 2013

ISBN: 9781475571295

Keywords: rollover risk, sovereign default, gross capital flows, reserve accumulation, reserve holdings, bonds, bond, International Lending and Debt Problems, Open Economy Macroeconomics,

Two striking facts about international capital flows in emerging economies motivate this paper: (1) Governments hold large amounts of international reserves, for which they obtain a return lower than their borrowin...

International Reserves and Rollover Risk

International Reserves and Rollover Risk »

Volume/Issue: 2013/33

Series: IMF Working Papers

Author(s): Javier Bianchi , Juan Carlos Hatchondo , and Leonardo Martinez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 January 2013

DOI: http://dx.doi.org/10.5089/9781475571295.001

ISBN: 9781475571295

Keywords: rollover risk, sovereign default, gross capital flows, reserve accumulation, reserve holdings, bonds, bond, International Lending and Debt Problems, Open Economy Macroeconomics,

Two striking facts about international capital flows in emerging economies motivate this paper: (1) Governments hold large amounts of international reserves, for which they obtain a return lower than their borrowin...