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fundamental reserve demands of Fed member banks, we find that despite being doubled, reserve requirements were not binding on bank … fundamental reserve demands of Fed member banks, we find that despite being doubled, reserve requirements were not binding on bank …
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The classical Heckscher-Ohlin-Mundell paradigm states that trade and capital mobility are substitutes, in the sense that trade integration reduces the incentives for capital to flow to capital-scarce countries. In this paper we show that in a world with heterogeneous financial development, the...
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