The Cost of Reserves
The cost of holding reserves is often estimated as the sovereign spread over the risk-free return on reserves paid on the debt issued to purchase them, which ignores the benign effect of reserves on the spread. This paper illustrates this numerically, showing that these costs, as typically measured,...
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| Format: | Journal Article |
| Language: | EN |
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2012
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| Online Access: | http://hdl.handle.net/10986/4681 |
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okr-10986-46812021-04-23T14:02:19Z The Cost of Reserves Levy Yeyati, Eduardo International Lending and Debt Problems F340 The cost of holding reserves is often estimated as the sovereign spread over the risk-free return on reserves paid on the debt issued to purchase them, which ignores the benign effect of reserves on the spread. This paper illustrates this numerically, showing that these costs, as typically measured, may have been considerably overstated. 2012-03-30T07:29:13Z 2012-03-30T07:29:13Z 2008 Journal Article Economics Letters 01651765 http://hdl.handle.net/10986/4681 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
EN |
| topic |
International Lending and Debt Problems F340 |
| spellingShingle |
International Lending and Debt Problems F340 Levy Yeyati, Eduardo The Cost of Reserves |
| relation |
http://creativecommons.org/licenses/by-nc-nd/3.0/igo |
| description |
The cost of holding reserves is often estimated as the sovereign spread over the risk-free return on reserves paid on the debt issued to purchase them, which ignores the benign effect of reserves on the spread. This paper illustrates this numerically, showing that these costs, as typically measured, may have been considerably overstated. |
| format |
Journal Article |
| author |
Levy Yeyati, Eduardo |
| author_facet |
Levy Yeyati, Eduardo |
| author_sort |
Levy Yeyati, Eduardo |
| title |
The Cost of Reserves |
| title_short |
The Cost of Reserves |
| title_full |
The Cost of Reserves |
| title_fullStr |
The Cost of Reserves |
| title_full_unstemmed |
The Cost of Reserves |
| title_sort |
cost of reserves |
| publishDate |
2012 |
| url |
http://hdl.handle.net/10986/4681 |
| _version_ |
1764392374444752896 |