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Why the Feldstein-Horioka “Puzzle” Remains Unsolved

Felipe, Jesus; Fullwiler, Scott; Yusoph, Al-Habbyel - 2022

world characterized by high capital mobility) should have never been labeled as such. First, we show that the investment and …

Persistent link: https://www.econbiz.de/10013290178

International Liquidity and Exchange Rate Dynamics

Gabaix, Xavier - 2015

We provide a theory of the determination of exchange rates based on capital flows in imperfect financial markets … their required compensation for holding currency risk, thus impacting both the level and volatility of exchange rates. Our … theory of exchange rate determination in imperfect financial markets not only rationalizes the empirical disconnect between …

Persistent link: https://www.econbiz.de/10013034612

Why the Feldstein-Horioka "puzzle" remains unsolved

Felipe, Jesus; Fullwiler, Scott; Yusoph, Al-Habbyel - 2022

world characterized by high capital mobility) should have never been labeled as such. First, we show that the investment and …

Persistent link: https://www.econbiz.de/10013192226

Japan's Foreign Assets and Liabilities : Implications for the External Accounts

Colacelli, Mariana; Gautam, Deepali; Rebillard, Cyril - 2021

The composition of Japan's current account balance has changed over time, with an increasing income balance primarily reflecting a growing net foreign asset position and higher corporate saving. A comparison of Japan's income balance with peer countries highlights: (i) relatively high yields on...

Persistent link: https://www.econbiz.de/10013243059

Why the Feldstein-Horioka “Puzzle” Remains Unsolved

Felipe, Jesus; Fullwiler, Scott; Yusoph, Al-Habbyel - 2022

rate on the domestic saving rate, the estimated coefficient is significantly larger than expected in a world with high …

Persistent link: https://www.econbiz.de/10014078601

The Current Account Income Balance : External Adjustment Channel or Vulnerability Amplifier?

Behar, Alberto; Hassan, Ramin - 2022

In terms of size, the net income balance (IB) is comparable to the trade balance (TB) for many countries. Yet the role of the IB in mitigating external vulnerabilities or complicating external adjustment remains underexplored. This paper studies the role of the IB in stabilizing or destabilizing...

Persistent link: https://www.econbiz.de/10014082657

Funding under borrowing limits in international portfolios

Trani, Tommaso - 2012

liability side, allowing investors sell domestic and foreign bonds and capturing changes in counterparty risk in a stylized way … prices are mainly affected by financiers' concern for counterparty risk: impact effects are deep and in line with the terms …

Persistent link: https://www.econbiz.de/10010316721

Effectiveness of Capital Restrictions : Do Regional and Income Differences Matter?

Gochoco‐Bautista, Maria Socorro - 2011

This study examines the differences in the effectiveness of de jure capital restrictions across economies in different regions (Asia versus non-Asia) and with varying income levels. It uses a panel of 45 economies over the period 1995-2007. The results show that differences in regional and...

Persistent link: https://www.econbiz.de/10013122532

The External Balance Assessment (EBA) Methodology

Phillips, Steven - 2014

The External Balance Assessment (EBA) methodology has been developed by the IMF's Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally consistent manner. Compared to other approaches, EBA emphasizes distinguishing...

Persistent link: https://www.econbiz.de/10013059857

Central Bank Swap Lines : Micro-level Evidence

Ferrara, Gerardo; Mueller, Philippe; Viswanath-Natraj, … - 2022

In this paper we investigate the price, volatility and micro-level effects of central bank swap lines during the 2020 pandemic. These policies lowered the ceiling on covered interest rate parity violations and reduced volatility following settlement of swap line auctions. We then combine...

Persistent link: https://www.econbiz.de/10013289210