Borradores de Economia
Number:
949
Published:
Classification JEL:
F31, E58, G20, D43
Keywords:
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
The most recent
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Central banks in emerging countries frequently build-up (diminish) reserves while attempting to depreciate (appreciate) their domestic currencies. Even if these interventions are e¤ective, they often entail various costs. Basu (2012), nonetheless, propose