capital requirements tend to reduce international bank lending and some forms of unconventional monetary policy can amplify …

We revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions … as well as weighted foreign prices is a homogeneous function of a country's international investment position. We find … thus argue that the purchasing power parity hypothesis holds conditionally, but not unconditionally, and that international …

is monetary policy in the U.S., which is transmitted through international capital flows. In this paper, we add to this …