2021 - Volume 53, Issue 5

2021 - Volume 53, Issue 5

Credit Lines and the Liquidity Insurance Channel

VIRAL V. ACHARYA,  HEITOR ALMEIDA,  FILIPPO IPPOLITO,  ANDER PEREZ-ORIVE


The Collateral Costs of Clearing

CYRIL MONNET,  THOMAS NELLEN


Partisan Conflict, News, and Investors' Expectations

MARINA AZZIMONTI

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A Time-Series Model of Interest Rates with the Effective Lower Bound

BENJAMIN K. JOHANNSEN,  ELMAR MERTENS

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Dissecting Macroeconomic News

DAVIDE E. AVINO,  ANDREI STANCU,  CHARDIN WESE SIMEN


Currency Wars? Unconventional Monetary Policy Does Not Stimulate Exports

ANDREW K. ROSE

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A Case against a 4% Inflation Target

ENGIN KARA,  TONY YATES

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Public Development Banks and Credit Market Imperfections

MARCELA ESLAVA,  XAVIER FREIXAS


Trust Us to Repay: Social Trust, Long-Term Interest Rates, and Sovereign Credit Ratings

Andreas Bergh,  Christian Bjørnskov

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A Model of Endogenous Financial Inclusion: Implications for Inequality and Monetary Policy

MOHAMMED AIT LAHCEN,  PEDRO GOMIS-PORQUERAS

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Cost of Sticky Prices under Multiple Stages of Production

TOYOICHIRO SHIROTA

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