G2TT
来源类型Discussion paper
规范类型论文
来源IDDP12933
DP12933 Foreign Currency Bank Funding and Global Factors
Cedric Tille; Signe Krogstrup
发表日期2018-05-14
出版年2018
语种英语
摘要The literature on drivers of capital flows stresses the prominent role of global financial factors. Recent empirical work, however, highlights how this role varies across countries and time, and this heterogeneity is not well understood. We revisit this question by focusing on financial intermediaries’ funding flows in different currencies. A portfolio model shows that the sign and magnitude of the response of foreign currency funding flows to global risk factors depend on the financial intermediary’s pre-existing currency exposure. Analysis of data on European banks’ aggregate balance sheets lends support to the model predictions, especially in countries outside the euro area.
主题International Macroeconomics and Finance
关键词Currency mismatch Capital flows Push factors Spillovers Cross-border transmission of shocks European bank balance sheets
URLhttps://cepr.org/publications/dp12933
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/541745
推荐引用方式
GB/T 7714
Cedric Tille,Signe Krogstrup. DP12933 Foreign Currency Bank Funding and Global Factors. 2018.
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