Add to ORKGTraditional portfolio balance theory derives a downward sloping currency demand function from limited international asset substitutability. Historically, this theory enjoyed little empirical support. We provide direct evidence by examining the ex-change rate effect of a major redefinition of the MSCI international equity index in 2001 and 2002. The index changes implied large changes in the representation of different countries in the MSCI world index and therefore produced strong exoge-nous equity flows by index funds. Our event study shows a strong announcement effect in which countries with a decreasing equity representation vis-a-vis the U.S. depreciated against the dollar
Reversals in capital inflows can have severe economic consequences. This paper develops a dynamic ge...
In order to gain a better empirical understanding of the international financial implications of cur...
We exploit novel transaction-level data from Colombia to analyze episodes of additions to and deleti...
Traditional portfolio balance theory derives a downward sloping currency demand func-tion from limit...
Traditional portfolio balance theory derives a downward sloping currency demand func-tion from limit...
Traditional portfolio balance theory derives a downward sloping currency demand func-tion from limit...
Using changes in the MSCI Standard Country Indices for 29 countries between 1998 and 2001, we docume...
Using changes in the MSCI Standard Country Indices for 29 countries between 1998 and 2001, we docume...
Abstract Do exchange rates react to exogenous capital movements? We explore this issue based on the ...
We develop a framework to explore the asset pricing implications of simultaneous supply shocks in mu...
Using changes in the MSCI Standard Country Indices for 29 countries between 1998 and 2001, we docume...
Using changes in the MSCI Standard Country Indices for 29 countries between 1998 and 2001, we docume...
Reversals in capital inflows can have severe economic consequences. This paper develops a dynamic ge...
Using changes in the MSCI Standard Country Indices for 29 countries between 1998 and 2001, we docume...
In this paper we use simple panel regression augmented by a VAR framework and impulse response funct...
Reversals in capital inflows can have severe economic consequences. This paper develops a dynamic ge...
In order to gain a better empirical understanding of the international financial implications of cur...
We exploit novel transaction-level data from Colombia to analyze episodes of additions to and deleti...
Traditional portfolio balance theory derives a downward sloping currency demand func-tion from limit...
Traditional portfolio balance theory derives a downward sloping currency demand func-tion from limit...
Traditional portfolio balance theory derives a downward sloping currency demand func-tion from limit...
Using changes in the MSCI Standard Country Indices for 29 countries between 1998 and 2001, we docume...
Using changes in the MSCI Standard Country Indices for 29 countries between 1998 and 2001, we docume...
Abstract Do exchange rates react to exogenous capital movements? We explore this issue based on the ...
We develop a framework to explore the asset pricing implications of simultaneous supply shocks in mu...
Using changes in the MSCI Standard Country Indices for 29 countries between 1998 and 2001, we docume...
Using changes in the MSCI Standard Country Indices for 29 countries between 1998 and 2001, we docume...
Reversals in capital inflows can have severe economic consequences. This paper develops a dynamic ge...
Using changes in the MSCI Standard Country Indices for 29 countries between 1998 and 2001, we docume...
In this paper we use simple panel regression augmented by a VAR framework and impulse response funct...
Reversals in capital inflows can have severe economic consequences. This paper develops a dynamic ge...
In order to gain a better empirical understanding of the international financial implications of cur...
We exploit novel transaction-level data from Colombia to analyze episodes of additions to and deleti...