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U.S. Dollar Currency Premium in Corporate Bonds

Caramichael, John; Gopinath, Gita; Liao, Gordon - 2022

We isolate a U.S. dollar currency premium by comparing corporate bonds issued in the dollar and the euro by firms o utside t he U .S. a nd e uro a rea. We make s everal empirical observations that dissect the perceived advantage of borrowing in the dollar. First, while the dollar dominates...

Persistent link: https://www.econbiz.de/10013306776

Central Bank Reserve Management and International Financial Stability-Some Post-Crisis Reflections

Jones, Bradley - 2018

Motivated by the tension first revealed during the global financial crisis between thedomestic and international financial stability obligations of central bank reserve managers,this paper offers some reflections along four main lines. First, the paper highlights howofficial reserve management...

Persistent link: https://www.econbiz.de/10012924272

The global crisis and equity market contagion

Bekaert, Geert; Ehrmann, Michael; Fratzscher, Marcel; … - 2014

We analyze the transmission of the financial crisis of 2007 to 2009 to 415 country-industry equity portfolios. We use a factor model to predict crisis returns, defining unexplained increases in factor loadings and residual correlations as indicative of contagion. While we find evidence of...

Persistent link: https://www.econbiz.de/10010229208

Equity Market Globalization and Portfolio Rebalancing

Kim, Kyungkeun - 2017

This paper examines how the financial globalization affects international equity mutual funds' portfolio choices in emerging markets. By examining the monthly holdings of 155 international funds, we first show that these funds actively engage in a rebalancing strategy to maintain their risk...

Persistent link: https://www.econbiz.de/10012954032

Investigating Dynamic Connectedness of Global Equity Markets : The Role of Investor Attention

Dash, Saumya; Gabauer, David; Goel, Garima; … - 2022

This study examines investor attention connectedness measures prior and during the COVID-19 period. We find that the investor attention spillovers are persistent among global equity markets, and developed markets have a dominant role as shock transmitters. The spillover effect increases...

Persistent link: https://www.econbiz.de/10013294760

Inter-markets volatility spillover in U.S. bitcoin and financial markets

Qarni, Muhammad Owais; Gulzar, Saqib; Fatima, Syeda Tamkeen - In: Journal of business economics and management 20 (2019) 4, pp. 694-714

insignificant effect on U.S. financial markets. This non-contagion nature of Bitcoin markets provides significant risk hedging and …

Persistent link: https://www.econbiz.de/10012175787

Oil price and exchange rate nexus in Nigeria : are there asymmetries

Abubakar, Attahir B. - In: CBN journal of applied statistics 10 (2019) 1, pp. 1-28

This paper examines the dynamics in the relationship between oil price and exchange rate in Nigeria by utilizing monthly data spanning January 1986 to June 2018. It specifically determines asymmetries in the relationship between oil price and exchange rate and the effect of oil price shocks on...

Persistent link: https://www.econbiz.de/10012178353

The impact of dollarisation on economic growth, investment, and trade

Bajrami, Fisnik - 2023

Dollarisation has been extensively debated and is often promoted as a viable monetary and exchange rate policy alternative for emerging economies. While most arguments for and against dollarisation are grounded in theory, there is a recognized scarcity of empirical evidence on the topic. This...

Persistent link: https://www.econbiz.de/10014422437

Can Time-Varying Currency Risk Hedging Explain Exchange Rates?

Bräuer, Leonie; Hau, Harald - 2022

bond positions, which creates a net hedging demand for dollar assets that depreciates USD rates in both the forward and … spot markets. We document the time-varying nature of this net hedging demand and show how it relates to eco … FX hedging pressure can account for approximately 30% of all monthly variation in the seven most important dollar …

Persistent link: https://www.econbiz.de/10013470324

The International Monetary System After the Financial Crisis

Dorrucci, Ettore - 2014

The main strength of today's international monetary system – its flexibility and adaptability to the different needs of its users – can also become its weakness, as it may contribute to unsustainable growth models and imbalances. The global financial crisis has shown that the system cannot...

Persistent link: https://www.econbiz.de/10013069527