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We study the curious patterns of gold holding and trading by central banks during 1979-2010. With the exception of several discrete step adjustments, central banks keep maintaining passive stocks of gold, independently of the patterns of the real price of gold. We also observe the...
Persistent link: https://www.econbiz.de/10012460766
We study the curious patterns of gold holding and trading by central banks during 1979-2010. With the exception of several discrete step adjustments, central banks keep maintaining passive stocks of gold, independently of the patterns of the real price of gold. We also observe the...
Persistent link: https://www.econbiz.de/10013109858
resultant ‘flight to safety’ led to a rapid $ appreciation and to a liquidity crunch, inducing a fast moving and deep global … COVID-19 crisis, the Fed provided US dollar liquidity to the global economy by reactivating or enhancing swap arrangements … that access to Fed liquidity was driven by close financial and trade ties with the US. An economy’s share in US trade and a …
Persistent link: https://www.econbiz.de/10014238845
We investigate the determinants of emerging markets performance during five U.S. Federal Reserve monetary tightening and easing cycles during 2004-2023. We study how macroeconomic and institutional conditions of an Emerging Market (EM) at the beginning of a cycle explain EM resilience during...
Persistent link: https://www.econbiz.de/10014528343
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important policy instrument, insuring against liquidity shortages. We find that countries' policy mixes are diverse, and have …
Persistent link: https://www.econbiz.de/10013362059
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