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, without leverage constraints on investment, financial integration itself has no implication for international macro co …
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This paper examines demand spillovers in a two country open economy model to a demand shock newline (emanating from a …
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The 'International Policy Trilemma' refers to the constraint on independent monetary policy that is forced on a country which remains open to international financial markets and simultaneously pursues an exchange rate target. This paper shows that, in a global economy with open financial...
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