A Fiscal Price Tag for International Reserves
- 1 January 2005
- journal article
- Published by International Monetary Fund (IMF) in IMF Working Papers
- Vol. 5 (81)
- https://doi.org/10.5089/9781451861006.001
Abstract
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 countriesKeywords
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