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

DOI10.1016/J.JEDC.2011.01.014MaRDI QIDQ654600zbMATH OpenOpenAlexFDO

Authors Joshua Aizenman

Publication date 29 December 2011

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jedc.2011.01.014

zbMATH Keywords

deleveragingfire-sale congestion externalityinternational reservestax-cum-subsidy

Mathematics Subject Classification ID

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

Recommendations

• Leaning-against-the-wind intervention and the ``carry-trade view of the cost of reserves
• A crisis transmission channel for reserve currency countries: a cautionary tale
• International reserves: precautionary versus mercantilist views, theory and evidence
• Editorial -- Recent trends in international reserves: theory and evidence
• The Asian financial crisis and international reserve accumulation: a robust control approach
• Capital controls, global liquidity traps, and the international policy trilemma
• The fiscal multiplier and spillover in a global liquidity trap

Cites work

• Bank Runs, Deposit Insurance, and Liquidity
• Fear of Floating
• International reserves: precautionary versus mercantilist views, theory and evidence
• Smoothing sudden stops

This page was built for publication: Hoarding international reserves versus a pigovian tax-cum-subsidy scheme: reflections on the deleveraging crisis of 2008--2009, and a cost benefit analysis

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q654600)