instruments can explain much of the in-sample variation in borrowing spreads, this fails to materialize in hedging strategies that … and innovation costs could justify the limited interest for this type of hedging in practice …

This paper examines the benefits from hedging the currency exposure of international investments in single- and multi …-country equity and bond portfolios from the perspectives of German, Japanese, British and American investors. Over the period 1975 to … 2009, hedging of currency risk substantially reduced the volatility of foreign investments at a quarterly investment …

interest-rate derivative markets, and their use by governments. Their stabilizing properties imply that, when bond prices fall … gains from hedging long-term bonds with interest rate derivatives. These bonds can help develop interest-rate derivative …