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This paper explores how affiliates of multinational corporations save liquidity when facing a transitory cash-flow shock. For this a panel is first built of non-publicly traded copper mines in South America between 2001 and 2012, most of them set up as Foreign Direct Investment (FDI). This...
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This paper studies the optimal maturity structure for government debt when markets for liquidity insurance are … in short and long maturities solves a liquidity insurance problem, but optimal yield curve policy is only possible if …
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