Claudio Soto

César Calderón

Klaus Schmidt-Hebbel (Series Editor)

Luis Felipe Céspedes

Norman Loayza (Series Editor)

Pablo García

Ricardo Caballero

English

Research Papers in Economics

A ‘Vertical’ Analysis of Crises and Intervention: Fear of Floating and Ex Ante Problems.” Working paper 8428.

A IMPRIMIR.pmd 02/03/2006,

A IMPRIMIR.pmd 02/03/2006, 10:51 204205 Large Hoardings of International Reserves

A IMPRIMIR.pmd 02/03/2006, 10:51 205206 Pablo García

An Essay on the Revived Bretton Woods System.”

Anticipating Balance-of-Payments Crises: The Role of Early Warning Systems.” Occasional paper 186. Washington: International Monetary Fund.

Are Currency Crisis Predictable?

Are Foreign Exchange Reserves in Asia Too High?” World Economic Outlook (September).

Capital Flows and Macroeconomic Management: Tequila Lessons.”

Currency Crashes in Emerging Markets: An Empirical Treatment.”

Demand for Reserves under International Capital Mobility.” Working paper 58. Santiago: Central Bank of Chile.

Emerging Market Crises: An Asset Markets Perspective.” Working paper 6843.

External Vulnerability in Emerging Market Economies: How High Liquidity Can Offset Weak Fundamentals and the Effect of Contagion.” Working paper 99/88. Washington: International Monetary Fund.

Fundamentals, Contagion and Currency Crises: An Empirical Analysis.” Working paper 98-10. Ottawa: Bank of Canada.

Globalization and Its Challenges.”

Growth and Adjustment in East Asia and Latin America.” Working paper 245. Santiago: Central Bank of Chile.

Holding International Reserves in an

International Financial Crises: Causes, Prevention,

International Liquidity Management: Sterilization Policy in Illiquid Financial Markets.” Working paper 7740.

International Reserve Holdings with Sovereign Risk and

International Reserves: Precautionary versus Mercantilisy Views, Theory and Evidence.”

Large Hoardings of International Reserves: Are They Worth It?” Working paper 299. Santiago: Central Bank of Chile.

Monetary Fund).

Option Pricing Approach to Reserve Adequacy.” Washington: International Monetary Fund.

Recovery and Sustainability in East Asia.” In Managing Currency Crises in Emerging Markets,

Reserves Adequacy in Emerging Market Economies.” Working paper WP/01/143. Washington: International Monetary Fund.

Sovereign Spreads and International Financial Conditions.” Santiago: Central Bank of Chile.

The Contribution of Domestic and External Factors to Latin American Devaluation Crises: An Early Warning Systems Approach.” International finance discussion paper 645. New York: Board of Governors of the Federal Reserve System.

The High Demand for International Reserves in the Far East: What Is Going On?”

The International Lender of Last Resort: How Large is Large Enough?” Working paper 8381.

The Modern History of Exchange Rate Arrangements: A Reinterpretation.” Working paper 8963.

The Revived Bretton Woods System: The Effects of Periphery Intervention and Reserve

Towards a New Early Warning System of Financial Crises.” Working paper 145. Frankfurt: European Central Bank.

Large Hoardings of International Reserves: Are They Worth It?

http://www.bcentral.cl/estudios/banca-central/pdf/v10/171_206garcia_soto.pdf

Large Hoardings of International Reserves: Are They Worth It?

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Research Papers in Economics