Nilsen, Jeffrey H. - 1998 - This Version: 21 April, 1998, First Draft: 8 July, 1997
? Using data from the Czech National Bank and data on individual Czech banks, I find evidence that in 1995 banks are provided … portfolio switch and find that the central bank instituted a monetary tightening during a regime of fixed exchange rates and … mobile capital. The central bank sterilized the continuing capital inflows. The resulting higher interbank interest rates and …