since the global financial crisis, which have limited arbitrage opportunities and country-specific factors that contribute … 'hedging counterpart of last resort,' can help stabilize financial intermediation when U.S. dollar funding markets come under …

This paper examines the benefits from hedging the currency exposure of international investments in single- and multi … 2009, hedging of currency risk substantially reduced the volatility of foreign investments at a quarterly investment … hedging for risk reduction purposes remained strong.In addition to its impact on risk, hedging affected returns in …