Spillovers at the Extremes: The Macroprudential Stance and Vulnerability to the Global Financial Cycle
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The effects of macroprudential policy on portfolio flows vary considerably across the global financial cycle. A tighter ex-ante macroprudential stance amplifies the impact of global risk shocks on bond and equity flows, increasing outflows significantly more during risk-off episodes and increasing
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美国国家经济研究局创建时间：
2022-01-01
