When firms and financial intermediaries are credit constrained any change in their relative wealth will affect interest rates and aggregate investment. Also, when hit by a shock such as a credit crunch, capital constrained firms will be the ones affected the most.
Holmstrom & Tirole (1997) Quarterly Journal of Economics
While it is rational for a country to accumulate foreign reserves as insurance against domestic crises, the worldwide accumulation of foreign reserves might also increase the risk of a financial crises at the centre.
Steiner, A. (2014) European Economic Review
Households in the US are more aware of changes to monetary policy in times of weak labor markets. Some households form their expectations about future policy in a way that is consistent with a monetary-policy rule used by Central Banks to change interests rates in response to changes in economic conditions
Carvalho et al. Journal of Monetary Economics (2014)
Since the creation of the World Trade Organization (WTO), emerging economies have increased their use of temporary trade barriers against trading partners (such as anti dumping, safeguards, and countervailing duties) to deal with negative exchange rate shocks. This despite the fact that many of these economies had considerable freedom under the WTO to raise trade tariffs more generally.
Bown et al. Journal of Development Economics (2014)