FREE Policy Brief

Non-Tariff Barriers and Trade Integration in the EAEU

David Tarr, NES
Natalia Turdyeva, CEFIR

FREE Policy Brief

Important Policy Lessons from Swedish-Russian Capital Flows Data

Torbjörn Becker, SITE

FREE Policy Brief

The Inevitable Social Security Reforms in Belarus

Kateryna Bornukova, BEROC

FREE Policy Brief

Did Russian Migration to Russia Affect the Labor Market?

Olga Lazareva, Higher School of Economics

FREE Policy Brief

Electoral Competition and Political Selection

Nicolas Gavoille, SSE Riga and BICEPS

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Time to Worry about Illiquidity

At a time when central banks have injected unprecedented amounts of money, worrying about illiquidity may appear odd. However, if poorly understood and unaddressed, illiquidity could be the foundation of the next financial crisis. Market liquidity is defined as the ease of trading a financial...
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Is Local Monetary Policy Less Effective When Firms Have Access to Foreign Capital?

Central banks affect growth in part by raising or lowering the cost of investment through their influence over local interest rates. We examine whether the ability of local firms to raise money abroad reduces the influence of local monetary policy authorities. Surprisingly, it does not....
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