Brazilian research looks at regulatory policies and capital flows
A research paper released in February by the Central Bank of Brazil looks into the role of counter-cyclical regulatory policy in response to capital flows associated with foreign bank borrowing.
The researchers develop a dynamic stochastic model of a small open middle-income economy with a two-level banking intermediation structure, a risk-sensitive regulatory regime and imperfect capital mobility in order to carry out their work.
The results suggest a counter-cyclical regulatory policy may need
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