Sterilization and the monetary approach to balance of payments analysis |
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Authors: | Russel S. Boyer |
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Affiliation: | University of Western Ontario, London, Canada |
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Abstract: | The authorities can sterilize the balance of payments in both the short and long run if domestic capital markets are not fully integrated with those of the rest of the world. The degree of sterilization which the authorities employ is an important determinant of the economy's response to any outside changes. |
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