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meetings around the world. In the US the OIS-implied forecasts outperform the federal funds futures-implied ones, and we report …
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Dollarization : a primer / Eduardo Levy Yeyati and Federico Sturzenegger -- Dollarization : analytical issues / Roberto Chang and Andrés Velasco -- Using balance sheet data to identify sovereign default and devaluation risk / Pablo Andrés Neumeyer and Juan Pablo Nicolini -- Dollarization and...
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the world earning a positive net investment income. To rationalize this phenomenon, I propose a different theory about the … dollar exchange rate. In the model, world financial intermediaries demand US safe assets for their convenience value, but US … intermediaries do not demand foreign safe assets. Under an aggregate symmetric financial shock, the rest of the world buys more safe …
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average and spot measures of the magnitude and direction of volatility spillovers. Our methodology is based on forecast error … variance decompositions of VAR and VARMA systems of parametric and non-parametric volatility measure... …
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