というNBER論文が上がっている(ungated版)。原題は「International Reserve Management under Rollover Crises」で、著者はMauricio Barbosa-Alves(ミネソタ大)、Javier Bianchi(ミネアポリス連銀)、César Sosa-Padilla(ノートルダム大)。 以下はその要旨。 This paper develops a framework to study the management of international reserves when a government faces the risk of a rollover crisis. In the model, it is optimal for the government to reduce its vulnerability by i