Afonso, António; Huart, Florence; Jalles, João Tovar; … - 2021
international reserves and on the financing of sovereign debt. An increase in foreign exchange reserves is expected to moderate the … a determinant of risk premium; iii) a negative effect of international reserves on interest rates, as expected; iv …) higher reserves decrease risk premia, for long-term interest rates; v) the significance of spillovers fades once the …