Dilemma not Trilemma: The Global Financial Cycle and Monetary Policy Independence
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https://www.nber.org/papers/w21162
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资源简介：
There is a global financial cycle in capital flows, asset prices and in credit growth. This cycle comoves with the VIX, a measure of uncertainty and risk aversion of the markets. Asset markets in countries with more credit inflows are more sensitive to the global cycle. The global financial cycle is
提供机构：
美国国家经济研究局
创建时间：
2015-05-01
