This document presents the international evolution of the foreign exchange markets, including the Over the Counter (OTC) derivatives activity, between 1998 and 2013. The main data source is the Triennial Central Bank Survey of foreign exchange and derivatives market activity coordinated by the...

Este trabajo presenta un análisis comparativo del mercado cambiario chileno durante el período 1998-2008, respecto de tres bloques de economías: Avanzadas, Emergentes y Latinoamericanas. Se examinan aspectos de profundidad, liquidez y nivel de integración con los mercados internacionales,...

In the last few years, we have observed a significant boot in copper prices which has been accompanied with a larger share of speculators. In fact, long positions of speculators increased from 25% in 2002 to 47% in 2005. In this work, we build a comprehensive weekly database with positions of...

During the last few years, large holdings of foreign assets and liabilities along with an increasing relevance of the valuation effects—capital gains or losses—have characterized global financial integration. This paper presents an empirical assessment of the implications of stocks, flows...