Chile: Selected Issues

International Monetary Fund

No 2004/292, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper reviews the benefits and costs of reserves for Chile, with emphasis on standard methodologies for assessing reserve adequacy. It reports an empirical methodology that analyzes simultaneously key explanatory variables behind a country’s level of reserves. The paper previews mechanisms that could supplement a country’s liquidity needs in times of stress. This paper also describes the instruments available for hedging foreign exchange risk, the demand and supply of foreign exchange hedging in the onshore market, and assesses foreign exchange exposure in different industrial sectors using factor analysis.

Keywords: ISCR; CR; market; exchange rate; Recent Trend GDP; estimate; finance trend GDP estimate; Ministry of Finance estimate; foreign exchange exposure; U.S. dollar; filtered estimate; estimates of trend GDP; Bonds; Reserve positions; Yield curve; Hedging; Global; Australia and New Zealand; Africa (search for similar items in EconPapers)
Pages: 58
Date: 2004-09-13
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Citations: View citations in EconPapers (3)

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