TY  - BOOK
AU  - Yang,Jie
AU  - Han,Liyan
TI  - Optimal size of currency swap between central banks: evidence from China
SN  - 13504851
AV  - HB1.A666 APP 
PY  - 2013///,
CY  - New York
PB  - Taylor and Francis
KW  - Currency swap
KW  - Export and import
KW  - Foreign exchange
N2  - Currency swaps are used by central banks to provide short-term liquidity to help enhance financial stability for both counterparts. We apply the newsboy inventory optimization to interpret the factors related to the optimal size of a currency swap, and we find that the mean value of foreign exchange demand, its volatility and the distribution form are important for the optimal swap size. Empirical studies regarding swap arrangements between China and its trading partners show that total trade volume and its long-term SD are robust explanatory variables
UR  - https://doi.org/10.1080/13504851.2012.689102
ER  -