Institution: | 1. Federal Reserve Board, International Finance Division, Mail Stop 43, Washington, DC, 20551, USA;2. PBC School of Finance and National Institute of Financial Research, Tsinghua University, 43 Chengfu Road, Haidian District Beijing 100083, PR China;1. European Stability Mechanism, Luxembourg;2. Institute of Economic Studies, Faculty of Social Sciences, Charles University, Prague, Czech Republic;3. Centre for Economic Policy Research (CEPR) |