Candelaria, Christopher A.; Lopez, Jose A.; Spiegel, Mark M. - Federal Reserve Bank of San Francisco - 2010
funding investments in higher interest rate currencies with low interest rate, yen-denominated obligations. In principle, bond … data set containing almost 80,000 international bond issues. Our results suggest that there was a movement towards issuing … in yen in the international bond markets starting in 2003, but this appears to have ended with the outbreak of the global …