Using a new data base that includes the currency composition of assets and liabilities of non-financial firms, this paper examines the effects and determinants of currency mismatches in Chile. In line with previous studies, we find that after a depreciation in real terms, firms with the largest...

Recent literature on sudden stops analyses the sharp and varied capital account reversals experienced by many emerging market economies. This paper claims that more information can be extracted from the behavior of gross capital flows than from their net results. It emphasizes the fact that,...