to be invoiced in the importer's currency. We offer a potential theoretical explanation for the empirical link between …

establishment of currency unions, the monetizing of recently acquired colonies, preferential trade arrangements, and customs unions …

instead to the structure of global portfolios and international financial markets. The literature on currency mismatches, in …

Using new data on currency invoicing for Belgian firms, we analyze how firms make their currency choice, for both … staggered price setting with endogenous currency choice. Our structural specification provides a new test of the allocative … consequences of nominal rigidities, by estimating the treatment effect of foreign-currency price stickiness on the dynamic response …

correlated in most villages with portfolio-choice estimates. The heterogeneity matters for policy: Although the average household …

the rest of the economy via high unemployment and reduced labor earnings, which reduced household contributions to Social …

This paper re-examines the classic question of how a household should optimally allocate its portfolio between risky …