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Remarks for the Jose Cuervo Tequila Talk, Institute of the Americas, La Jolla, California, April 5, 2006 ; "For Mexico … are key aspects of Mexico's comparative advantage vis-a-vis nations in Asia and Eastern Europe. A loss of competitiveness … in Mexico is a loss for the entire border economy, where so much of our growth is linked to expansion on the more …
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We present new evidence on how heterogeneity in banks interacts with monetary policy changes to impact bank lending, at both the bank and U.S. state levels. Using an exogenous policy measure identified from narratives on FOMC intentions and real-time economic forecasts, we find much stronger...
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Shocks emanating from and propagating through the banking system have recently gained interest in the macroeconomics literature, yet they are not a feature unique to the 2008/09 financial crisis. Banking disintermediation shocks occured frequently during the Great Inflation era due to fixed...
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