IDEAS home Printed from https://ideas.repec.org/a/cml/moneta/vxxxvy2013i1p1-39.html
   My bibliography  Save this article

Tenencias óptimas de reservas internacionales: autoaseguramiento contra interrupciones súbitas de flujos de capital

Author

Listed:
  • Guillermo Calvo

    (Columbia University)

  • Alejandro Izquierdo

    (asesor económico regional)

  • Rudy Loo-Kung

    (Banco InterAmericano de Desarrollo.)

Abstract

En este artículo se determina el nivel óptimo de reservas internacionales en términos de un modelo estadístico en el cual las reservas afectan tanto la probabilidad de una interrupción súbita de flujos de capital, como los costos en producto asociados, al reducir los efectos de balance producidos porla dolarización de pasivos. Se encuentra que las reservas observadas en vísperas de la crisis financiera no estuvieron –en promedio– alejadas de los niveles óptimos derivados del modelo

Suggested Citation

  • Guillermo Calvo & Alejandro Izquierdo & Rudy Loo-Kung, 2013. "Tenencias óptimas de reservas internacionales: autoaseguramiento contra interrupciones súbitas de flujos de capital," Monetaria, CEMLA, vol. 0(1), pages 1-39, enero-jun.
    • Handle: RePEc:cml:moneta:v:xxxv:y:2013:i:1:p:1-39
    as

    Download full text from publisher

    File URL: http://www.cemla.org/PDF/monetaria/PUB_MON_XXXV-01.pdf
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cml:moneta:v:xxxv:y:2013:i:1:p:1-39. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Matias Ossandon Busch (email available below). General contact details of provider: https://edirc.repec.org/data/cemlamx.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.