| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15313 |
| DP15313 The Economics of Currency Risk | |
| Tarek Hassan; Tony Zhang | |
| 发表日期 | 2020-09-22 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This article reviews the literature on currency and country risk with a focus on its macroeconomic origins and implications. A growing body of evidence shows countries with safer currencies enjoy persistently lower interest rates and a lower required return to capital. As a result, they accumulate relatively more capital than countries with currencies international investors perceive as risky. Whereas earlier research focused mainly on the role of currency risk in generating violations of uncovered interest parity and other financial anomalies, more recent evidence points to important implications for the allocation of capital across countries, the efficacy of exchange rate stabilization policies, the sustainability of trade deficits, and the spillovers of shocks across international borders. |
| 主题 | Financial Economics ; International Macroeconomics and Finance ; Macroeconomics and Growth ; Monetary Economics and Fluctuations |
| 关键词 | Currency risk Country risk Capital flows Uncovered interest parity Carry trade Forward premium puzzle |
| URL | https://cepr.org/publications/dp15313 |
| 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/544291 |
| 推荐引用方式 GB/T 7714 | Tarek Hassan,Tony Zhang. DP15313 The Economics of Currency Risk. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Tarek Hassan]的文章 |
| [Tony Zhang]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Tarek Hassan]的文章 |
| [Tony Zhang]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Tarek Hassan]的文章 |
| [Tony Zhang]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
