calibration matching data from the U.S. and G10 currency countries implies that persistent shocks to relative demand, reflected in … persistent interest rate differentials, account for 75% of the variance in the dollar/G10 exchange rate. Shocks to currency …

Recent trends suggest the world economy may be tending towards an equilibrium with two distinct trading blocs, each … emphasizes the joint determination of countries' portfolio choices and trading currency. We find that unilateral protectionism on …

This paper explores the relationship between different funding structures--including the source, instrument, currency …

exchange markets, but it typically last only a few seconds. "Free lunch" is in the form of (a) negative spreads in a currency … pair and (b) triangular arbitrage relationship involving three currency pairs. The latter occur much more often than the … simultaneously take place on both sides of ask and bid (or three currency trades in case of triangular arbitrage) occur more often …

Frequent, yet uninformed, fund flows in Chilean pension plans generate substantial trading in currency markets due to … pressure to currency forward markets and results in violations of the covered interest rate parity. Using trading data and bank …

borrowing in foreign currency (FX) and lending in domestic currency, largely in the form of trade credit, accumulating currency … more prevalent when foreign currency borrowing is relatively cheaper than local currency borrowing, and it is associated … with expansions in both gross trade credit and sales. Firms that were more active in carry-trades, accumulating currency …