changes on the required rate of return. Frequently, the control variable is an equity index. We propose that using a bond … return control variable instead of equity returns addresses several theoretical problems inherent in the indirect estimation … approach. In our empirical analysis we find that using the bond-based control variable results in FX cash flow exposure …

between reciprocals often produces significantly different outcomes. While ME/BE is a more commonly used control variable than …

) in nonseparable triangular models with endogenous regressors via a control variable approach, as employed by Imbens and …