Showing 1 - 10 of 1,903
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 …
Persistent link: https://www.econbiz.de/10014402714
This paper examines how exchange rate volatility and Korean banks’ foreign exchange liquidity mismatches interacted with each other during the Global Financial Crisis, and whether the vulnerability stemming from this interaction has been reduced since then. Structural and cyclical changes...
Persistent link: https://www.econbiz.de/10014395582
This paper presents the most comprehensive and up-to-date panel data set of invoicing currencies in global trade. It provides data on the shares of exports and imports invoiced in US dollars, euros, and other currencies for more than 100 countries since 1990. The evidence from these data...
Persistent link: https://www.econbiz.de/10012299325
voting decisions. Thus, risk neutral individuals exhibit what we call political risk aversion. Yet individual uncertainty is …
Persistent link: https://www.econbiz.de/10014402381
explores how much of these large movements reflected shifts in (i) global risk aversion (ii) country-specific risks, directly … in the crisis, the surge in global risk aversion was a significant factor influencing sovereign spreads, while recently … Spain, as the emphasis has shifted towards short-term refinancing risk and long-term fiscal sustainability. The paper …
Persistent link: https://www.econbiz.de/10014402913
Recent literature has highlighted that international trade is mostly priced in a few key vehicle currencies and is increasingly dominated by intermediate goods and global value chains (GVCs). Taking these features into account, this paper reexamines the relationship between monetary policy,...
Persistent link: https://www.econbiz.de/10013170273
to an appreciation of the Thai baht. Foreign investors do not appear to hedge the foreign exchange risk related to their …
Persistent link: https://www.econbiz.de/10014395736
currency risk premia is positively related to the share of peso denominated debt in total debt and that the magnitude of this …
Persistent link: https://www.econbiz.de/10014398127
foreign exchange, interest rate, and credit risk. For surveillance purposes, this framework can easily be integrated into one …
Persistent link: https://www.econbiz.de/10014402512
rate adjustments. The formulation is theory-based, relying on balance of payments equilibrium conditions and international … Risk Response Index, which reflects the country-specific sensitivity of capital flow pressures to measures of global risk … aversion. For a large sample of countries over time, we demonstrate time variation in the effects of global risk on exchange …
Persistent link: https://www.econbiz.de/10011809564