FREE Policy Brief

Financing for Development: Two Years after Addis

Anders Olofsgård, SITE

FREE Policy Brief

“New Goods” Trade in the Baltics

Julián P. Díaz, Quinlan School of Business
Sang-Wook (Stanley) Cho, University of New South Wales

FREE Policy Brief

Independent Media and Contemporary Military Doctrines

Ekaterina Zhuravskaya, Paris School of Economics

FREE Policy Brief

Cross-Country Differences in Convergence in CESEE

By Bas B. Bakker, IMF
Krzysztof Krogulski, IMF

FREE Policy Brief 

Monetary Policy Puzzle in the Presence of a Negative TFP Shock and Unstable Expectations

Dzmitry Kruk, BEROC

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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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