Procyclicality in Central Bank Reserve Management: Evidence from the Crisis

WP/10/150

Procyclicality in Central Bank Reserve Management: Evidence from the Crisis
A decade-long diversification of official reserves into riskier investments came to an abrupt end at the beginning of the global financial crisis, when many central bank reserve managers started to withdraw their deposits from the banking sector in an apparent flight to quality and safety. We estimate that reserve managers pulled around US$500... READ MORE...

Publication date: June 2010
ISBN 9781455201334
$18.00

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Publication date: June 2010

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Publication date: June 2010

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