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liquidity providers to the EU banking sector. This also explains the different evolution of leverage compared to the US …, makes leverage a less relevant indicator of riskiness for investors. Secondly, it implies that in times of liquidity … shortages, mother companies or groups demand further liquidity from their branch or subsidiary. The downturn in leverage during …
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regulation and liquidity injection into the interbank market. Our aim is to understand the importance of supervisory and monetary … liquidity injections reduce financial instability but have ambiguous effects on output fluctuations. The model also confirms the …
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Over the last 12 months, the supervision of liquidity has become one of the most discussed issues by the central banks … and the financial market authorities. The objective of this paper is to describe the off-site liquidity monitoring … liquidity position of every bank is described by two different scores that take into account the bank?s liquidity position …
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According to the quantitative theory of money, an expansion of the money supply leads both to a decrease of interest rates and an increase of the general level of good prices. This negative correlation expected between these two variables being contradicted by the positive correlation observed...
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This paper analyses Cape Verde's exchange rate policy and investigates whether viable alternatives exist. Cape Verde currently operates a fixed exchange rate regime which, since 1999, links the national currency to the euro. The fixed exchange rate has many benefits, but authorities have to...
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We consider the problem of testing whether the observations X1, · · ·, Xn of a time series are independent with unspecified (possibly nonidentical) distributions symmetric about a common known median. Various bounds on the distributions of serial correlation coefficients are proposed:...
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