Kumhof, Michael; Phurichai Rungcharoenkitkul; Sokol, Andrej - 2021 - This is an updated version of the Staff Working Paper originally published on 21 August 2020
tracks domestic and cross-border gross positions between banks and households, with explicit settlement of all transactions … through banks. We formalise the conceptual distinction between cross-border saving and financing, which often move in opposite … saving, but with digital purchasing power, created by banks that are more likely to be domestic than foreign. Third, Triffin …
