Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/66910
Authors: 
Lavigne, Robert
Year of Publication: 
2008
Series/Report no.: 
Bank of Canada Discussion Paper 2008-4
Abstract: 
The author examines recent trends in sterilized intervention among emerging-market economies, to determine the size and extent of this policy in relation to earlier periods of heavy reserve accumulation. He then analyzes whether the domestic costs and risks of substantial and prolonged sterilization are beginning to manifest themselves. In particular, the author discusses the fiscal costs of sterilization and the recent increase in non-market-friendly sterilization methods, such as the rapid rise in reserve requirement ratios.
Subjects: 
Financial stability
Exchange rate regimes
International topics
JEL: 
F31
E52
O24
Document Type: 
Working Paper
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