Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Fiscal Affairs Department, issuing body.
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| ISBN: | 1283512203
9781283512206
9781451906363
1451906366
1462351859
9781462351855
1452785481
9781452785486
9786613824653
6613824658
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| Notes: | "April 2005."
Includes bibliographical references (pages 28-29).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | This paper examines the (quasi- )fiscal impact of the (opportunity) cost of international reserves. It proposes a conceptual framework, with particular emphasis on two hitherto somewhat neglected aspects: a more appropriate measure of gross opportunity cost, and potential savings from lower external debt spreads that countries "buy" by holding reserves. The framework is then applied to 100 countries over 1990-2004. The results suggest that a turning point has been reached in recent years: while most countries made money on their reserves during 1990-2001, most have been losing money during 2002-04
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| Other form: | Print version: Hauner, David. Fiscal price tag for international reserves. Washington, D.C. : International Monetary Fund, Fiscal Affairs Dept., ©2005
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| Standard no.: | 10.5089/9781451906363.001
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