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Gordon Liao (2019)
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AbstractWe document a triangular relationship in that a stronger dollar goes hand in hand with larger deviations from covered interest parity (CIP) and contractions of cross-border bank lending in dollars. We argue that underpinning the triangle is the role of the dollar as a key barometer of risk-taking capacity in global capital markets. (JEL F23, F31, G15, G21)
American Economic Review: Insights – American Economic Association
Published: Sep 1, 2019
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