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Insurance Value of International Reserves

Insurance Value of International Reserves »

Source: Insurance Value of International Reserves : An Option Pricing Approach

Volume/Issue: 2004/175

Series: IMF Working Papers

Author(s): Jaewoo Lee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

ISBN: 9781451858785

Keywords: option, underlying asset, international reserves, reserve holding, external debt, currency crises, reserve holdings, Open Economy Macroeconomics,

A quantitative framework is developed to bring forward the insurance motive of holding international reserves. The insurance value of reserves is quantified as the market price of an equivalent option that provides...

III The Asian Crisis and the Region’s Long-Term Growth Performance

III The Asian Crisis and the Region’s Long-Term Growth Performance »

Source: World Economic Outlook, October 1998 : Financial Turbulence in the World Economy

Series: World Economic and Financial Surveys

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 November 1998

ISBN: 9781557757739

Keywords: debt, interest, debtor countries, current account, external debt

Over the past three decades, the economies of east Asia made remarkable economic progress. Following on the heels of Japan’s double-digit growth in the 1960s, Korea, Taiwan Province of China, Hong Kong SAR,...