NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Optimal Reserve Management and Sovereign Debt

Laura Alfaro, Fabio Kanczuk

NBER Working Paper No. 13216
Issued in July 2007

---- Acknowledgements -----

We thank Joshua Aizenman, Manuel Amador, Jaewoo Lee, Enrique Mendoza, Julio Rotemberg, two anonymous referees and participants at the Federal Reserve Bank of San Francisco's Annual Pacific Basin Conference and University of São Paulo for valuable comments and suggestions. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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