Liquidity Management under Fixed Exchange Rate with Open Capital Account

Liquidity Management under Fixed Exchange Rate with Open Capital Account
This paper introduces a theoretical framework for liquidity management under fixed exchange rate arrangement, derived from the price-specie flow mechanism of David Hume. The framework highlights that the risk of short-term money market rates un-anchoring from the uncovered interest rate parity due to money and foreign exchange market frictions... READ MORE...

Publication date: March 2019
ISBN 9781498302913
$18.00

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