Positive and Normative Implications of Liability Dollarization for Sudden Stops Models of Macroprudential Policy
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"Liability dollarization,'' namely intermediation of capital inflows in units of tradables into domestic loans in units of aggregate consumption, adds three important effects driven by real-exchange-rate fluctuations that alter standard models of Sudden Stops significantly: Changes on the debt
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美国国家经济研究局创建时间:
2018-02-01



