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Hardy, Daniel C. L. - 1993

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Retarding short-term capital inflows through withholding tax

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Sudden Stops and Optimal Self-Insurance

Kim, Jun Il - 2008

This paper presents a simple model of optimal reserves that can be easily calibrated to compute optimal reserves as well as the implied probability of a sudden stop for given reserves. The model builds upon the global games framework of Morris and Shin to establish a unique relationship between...