Daniela Gabor on Financial Globalization, Capital Controls, and the Critical Macrofinance Framework
Macro Musings with David Beckworth
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How Do Balance Sheets Matter?
i've spent a long time studying them, and it's he part of the plamming of financial the financial system, that i guess i understand better. But what is fascinating to me is to look at the way in which balance sheets become increasingly interconnected through an echo system That creates liquidityof shares out of equity and bond collateral. And we have the same logic thereof of trying to innovate new types of liquid liabilities, first t through equities. The bonditeres are or much more interesting, also because they illuminate the growing power of asset managers. I'm thinking about the nexts between the us. Rip marketand and us Dollar f x swap market.
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