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Taming the gobal financial cycle : central banks and the sterilization of capital flows in the first era of globalization

Bazot, Guillaume; Monnet, Eric; Morys, Matthias - 2019

Are central banks able to isolate their domestic economy by offsetting the effects of foreign capital flows? We provide an answer for the First Age of Globalization based on an exceptionally detailed and standardized database of monthly balance sheets of all central banks in the world (i.e. 21)...

Persistent link: https://www.econbiz.de/10012124694