Gateway to Think Tanks
来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w20820 |
来源ID | Working Paper 20820 |
International Currency Exposures, Valuation Effects, and the Global Financial Crisis | |
Agustín S. Bénétrix; Philip R. Lane; Jay C. Shambaugh | |
发表日期 | 2015-01-12 |
出版年 | 2015 |
语种 | 英语 |
摘要 | We examine the evolution of international currency exposures, with a particular focus on the 2002-12 period. During the run up to the global financial crisis, there was a widespread shift towards positive net foreign currency positions, such that relatively few countries exhibited the archetypal emerging-market \short foreign currency" position on the eve of the global financial crisis. During the crisis, the upheaval in currency markets generated substantial currency-generated valuation effects - much of which were not reversed. There is some evidence that the distribution of valuation effects was stabilizing in the sense of showing a negative covariation pattern with pre-crisis net foreign asset positions. |
主题 | International Economics ; International Finance |
URL | https://www.nber.org/papers/w20820 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/578495 |
推荐引用方式 GB/T 7714 | Agustín S. Bénétrix,Philip R. Lane,Jay C. Shambaugh. International Currency Exposures, Valuation Effects, and the Global Financial Crisis. 2015. |
条目包含的文件 | 条目无相关文件。 |
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。