Leaning-against-the-wind intervention and the ``carry-trade view of the cost of reserves

DOI10.1007/S11079-022-09689-ZMaRDI QIDQ2685486zbMATH OpenOpenAlexFDO

Authors Eduardo Levy-Yeyati, Juan Francisco Gómez

Publication date 22 February 2023

Published in Open Economies Review (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s11079-022-09689-z

zbMATH Keywords

exchange ratesself-insuranceinternational reservesforeign exchange intervention

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

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Cited in

(1)

• Hoarding international reserves versus a pigovian tax-cum-subsidy scheme: reflections on the deleveraging crisis of 2008--2009, and a cost benefit analysis

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