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We show that dealer market power impedes the pass-through of monetary policy in repo markets, which is an important first stage of monetary policy transmission. In the European repo market, most participants do not have access to trade on centralized exchanges. Rather, they rely on OTC...
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Main description: This book proposes a new framework for explaining and anticipating foreign economic policy changes, at the same time providing a fascinating account of three American policy shifts that transformed the postwar international monetary system.Originally published in 1982.The...
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