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UID:313e2c398af9a50af5e2aebec01e2ce2
CATEGORIES:Seminars
CREATED:20250120T070816
SUMMARY:Lunch Seminar: César Sosa-Padilla - University of Notre Dame
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p><em><strong>International Reserve Management under Rollover Crises</stro
 ng></em></p><p>Abstract:</p><p>This paper investigates how a government sho
 uld manage international reserves when<br /> it faces the risk of a rollove
 r crisis. We ask, should the government accumulate reserves<br /> or reduce
  debt to make itself less vulnerable? We show that the optimal policy entai
 ls<br /> initially reducing debt, followed by a subsequent increase in both
  debt and reserves as<br /> the government approaches a safe zone. Furtherm
 ore, we find that issuing additional<br /> debt to accumulate reserves can 
 lead to a reduction in sovereign spreads.</p>
DTSTAMP:20260419T142426Z
DTSTART:20250514T130000Z
DTEND:20250514T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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