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In this paper, we study transmission of global funding shocks to emerging economies (EMs) from the perspective of interbank markets. Money markets enable banks to engage in risk-sharing against liquidity shocks and are sensitive to global funding conditions. Accordingly, we first show that...
Persistent link: https://www.econbiz.de/10012171269
I explore an empirically robust but previously undocumented association between the foreign exchange reserves accumulated by central banks of emerging market economies and dollar-denominated debt held in the balance sheets of non financial sector firms. Borrowing in dollars can have damaging...
Persistent link: https://www.econbiz.de/10009012369
I explore an empirically robust but previously undocumented association between the foreign exchange re- serves accumulated by central banks of emerging market economies and dollar-denominated debt held in the balance sheets of non financial sector firms. Borrowing in dollars can have damaging e
Persistent link: https://www.econbiz.de/10011112094
I explore an empirically robust but previously undocumented association between the foreign exchange reserves accumulated by central banks of emerging market economies and dollar-denominated debt held in the balance sheets of non financial sector firms. Borrowing in dollars can have damaging...
Persistent link: https://www.econbiz.de/10010860122
Persistent link: https://www.econbiz.de/10013327894
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