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over faster than domestic assets because the former have desirable liquidity properties, but represent inferior saving …
Persistent link: https://www.econbiz.de/10013121055
I describe two amplifications mechanisms that operate during liquidity crises and discuss the scope for central bank … disengage from markets and increase their demand for liquidity. This behavior leads to a loss of liquidity and a crisis …
Persistent link: https://www.econbiz.de/10013152569
emerging economy, and those affecting borrowing from foreign lenders. This 'dual liquidity' model offers a parsimonious …
Persistent link: https://www.econbiz.de/10013224671
Most economists and observers place the lack of fiscal discipline at the core of the recent Argentine crisis. This begs the question of how countries like Belgium or Italy (pre-Maastricht) could run large fiscal deficits and accumulate debts far beyond those of Argentina, without experiencing...
Persistent link: https://www.econbiz.de/10013233772
the international liquidity management aspect of sterilization over the traditional monetary one, a re-focus that seems … liquidity management issues more generally …
Persistent link: https://www.econbiz.de/10013245510
effects can arise, so that less liquidity and a higher cost for finance can reinforce each other in a contagious spiral. I … document the remarkable rise in the premium that investors placed on liquidity during the crisis. Next, I show how these issues …
Persistent link: https://www.econbiz.de/10013150114