currency. In addition, carry trade portfolios are exposed to multiple risk factors. Those factors are more significant at the … emerging markets. Finally, high country risk predicted high carry trade return …

measure of funding risk is the standard deviation of the magnitude of the funding constraints. This funding risk measure …, oil price volatility, as well as by the actions of the main central banks. Although funding risk has been present … constraints start binding at that time. We document evidence that since 2008 funding risk has affected the magnitude of currency …