economy. The measure of a currency's global role is based on the size and stage of development of the underlying economy, as … currency. The paper applies the concept to 22 currencies of advanced and emerging economies. The results confirm the well … measure in detail, arguing that in view of financial globalisation, an indicator based on currency shares in the international …

the short- and long-term perspectives. Thus, it is worth diversifying between these two currency groups. …

Frequent, yet uninformed, fund flows in Chilean pension plans generate substantial trading in currency markets due to … pressure to currency forward markets and results in violations of the covered interest rate parity. Using trading data and bank …

We document that the currency denomination of the debt of developed country firms is strongly related to the … equivalent increase in the proportion of debt denominated in the corresponding currency. Consistent with the existence of fixed … costs of debt issuance, we find that the relationship between the currency denomination of debt and the geography of sales …

exchange markets, but it typically last only a few seconds. "Free lunch" is in the form of (a) negative spreads in a currency … pair and (b) triangular arbitrage relationship involving three currency pairs. The latter occur much more often than the … simultaneously take place on both sides of ask and bid (or three currency trades in case of triangular arbitrage) occur more often …

suggest that retail investors in currency markets follow the news and are influenced by news sentiment and past returns, but … public information as an explanation for the importance of order flow in price formation in currency markets …