All Outputs (2)

FX swaps, shadow banks and the global dollar footprint (2022)
Journal Article
Dafermos, Y., Gabor, D., & Michell, J. (2023). FX swaps, shadow banks and the global dollar footprint. Environment and Planning A, 55(4), 949-968. https://doi.org/10.1177/0308518X221128302

The era of dollar-based financial globalisation has seen a steady rise in the use of foreign exchange (FX) swaps. We provide a macrofinancial political economy perspective on the geography of FX swaps, and the spatial effects of central bank policies... Read More about FX swaps, shadow banks and the global dollar footprint.

Should central bank liquidity be a vehicle for fiscal disciplining? (2022)
Journal Article
Vestergaard, J., & Gabor, D. (2022). Should central bank liquidity be a vehicle for fiscal disciplining?. Cambridge Journal of Economics, 46(3), 491-509. https://doi.org/10.1093/cje/beac010

With notable exceptions, central banking scholars typically pay little attention to collateral frameworks, and therein, to the haircuts applied to the collateral assets pledged to access central bank liquidity. One such exception, Kjell Nyborg (2017)... Read More about Should central bank liquidity be a vehicle for fiscal disciplining?.