Accounting for Reserves

WP/12/302

Nopic
Views on the effectiveness of sterilized reserve intervention vary. Sterilized intervention is generally seen as ineffective in advanced countries while persistent intervention by some emerging markets is often cited as contributing to undervalued exchange rates and current account surpluses. This paper argues that capital controls reconcile... READ MORE...

Publication date: December 2012
ISBN 9781475535761
$18.00

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Publication date: December 2012

English