という論文をイタリア銀行の3人の研究者が書いている。論文の原題は「Foreign exchange reserve diversification and the “exorbitant privilege”」で、著者はPietro Cova、Patrizio Pagano、Massimiliano Pisani。以下はその要旨。 We assess the global macroeconomic implications of different strategies of official reserve management by developing a large scale new-Keynesian dynamic general equilibrium model of the world economy, calibrated on the euro area, the