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The recent crisis highlighted the importance of globally active banks in linking markets. One channel for this linkage is the liquidity management of these banks, specifically the regular flow of funds between parent banks and their affiliates in diverse foreign markets. We use the Great...
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means to protect low-skilled workers being seriously eroded, alternative policy options are discussed to restore …
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consequences for economic and financial stability, including the ability of countries to conduct autonomous monetary policy. I … address the monetary autonomy issue in the context of the international policy trilemma: Countries seek three typically … desirable but jointly unattainable objectives-stable exchange rates, free international capital mobility, and monetary policy …
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