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The Federal Reserve's quantitative easing is presented as injecting $600 billion into “the economy.” But instead of getting banks lending to Americans again - households and firms - the money is going abroad, through arbitrage interest-rate speculation, currency speculation, and capital...
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Monetary and fiscal policies around the world are in better shape today than two decades ago. This paper studies … whether financial globalization has helped induce governments to pursue better macroeconomic policies (the quot … find strong and robust causal evidence. There is some evidence that financial globalization may have induced countries to …
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currency area projects in the context of financial globalization. The authors focus on several central issues that emerged …
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