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What are the constraints that have stalled EMs efforts to reuse their securities in international financial centers? We discuss the economics of collateral re-use and the present institutional structure in Asian and Latin American countries. Our empirical investigation suggests pledgeability...
Persistent link: https://www.econbiz.de/10012604765
of financial integration or interrelatedness, asking how Asia compares with Europe and Latin America and with the base … more financially integrated than other regions. Asia, more interestingly, already seems to have made more progress on this … sample suggest that one factor holding back investment in foreign bonds in East Asia may be limited geographical …
Persistent link: https://www.econbiz.de/10014400278
Exchange market pressure (EMP), the sum of exchange rate depreciation and reserve outflows (scaled by base money), summarizes the flow excess supply of money in a managed exchange rate regime. Examining Brazil, Chile, Mexico, Indonesia, Korea, and Thailand, this paper finds that monetary policy...
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This paper compares business cycles in Asia and in Latin America using structural vector autoregression analysis with … America, as opposed to Asia, output is affected more by external and domestic demand shocks …
Persistent link: https://www.econbiz.de/10014403312
We analyze the impact of trade policy uncertainty on investment in the euro area. Our identification strategy assumes that countries that are relatively more dependent on global trade networks exhibit a higher sensitivity of investment with respect to trade uncertainty. We find that the...
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