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the primary foreign currency liquidity needs of the central bank are already satisfied. …
Persistent link: https://www.econbiz.de/10014501124
Building on the facility design and application experience from the period of the global financial crisis, in March 2020 the Federal Reserve eased the terms on its standing swap lines in collaboration with other central banks, reactivated temporary swap agreements, and then introduced the new...
Persistent link: https://www.econbiz.de/10012625891
sensitivity of these strains to risk sentiment deterioration. Cross-border flows through banks for excess liquidity support … facilities leaves longer-term patterns of cross-border liquidity and capital flows broadly unchanged. While official sector … liquidity hoarding and “dash for cash” activity are expected to be lower with access to these facilities, initial evidence does …
Persistent link: https://www.econbiz.de/10012797880
That central banks should hold foreign currency reserves is a key tenet of the post-Bretton Woods international financial order. But recent growth in the reserve balances of industrialized countries raises questions about what level and composition of reserves are “right” for these...
Persistent link: https://www.econbiz.de/10013083967
Persistent link: https://www.econbiz.de/10003743865
Persistent link: https://www.econbiz.de/10013186141
We document the consequences of real exchange rate movements for the employment, hours, and hourly earnings of workers in manufacturing industries across individual states. Exchange rates have statistically significant wage and employment implications in these local labor markets. The importance...
Persistent link: https://www.econbiz.de/10014193865
This paper presents the novel results from an internationally coordinated project by the International Banking Research Network (IBRN) on the cross-border transmission of conventional and unconventional monetary policy through banks. Teams from seventeen countries use confidential micro-banking...
Persistent link: https://www.econbiz.de/10011877813
This paper presents the novel results from an internationally coordinated project by the International Banking Research Network (IBRN) on the cross-border transmission of conventional and unconventional monetary policy through banks. Teams from seventeen countries use confidential micro-banking...
Persistent link: https://www.econbiz.de/10012911041
Global liquidity refers to the volumes of financial flows - largely intermediated through global banks and non … provides policy-relevant lessons. International spillovers of monetary policy and risk sentiment through global liquidity … liquidity provision. Strong prudential policies in the home countries of global banks and official facilities reduce funding …
Persistent link: https://www.econbiz.de/10014322743