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Crises have cleansing effects: Low-quality firms face greater financial shortfalls and invest less than high-quality firms. Public liquidity support preserves the overall production capacity. However, by dampening the cleansing effects, it distorts the quality distribution and reduces the total...
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This paper presents High-Level Summary Technical Assistance (TA) report on Mongolia Central Bank Communications. The TA … report reviews the existing communication framework of Bank of Mongolia (BOM). The analysis focuses on the assessment of the …
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