capital asset pricing model. A conceptual choice occurs not only between the foreign currency and the home currency approach … company, but also the valuation of a domestic company that generates cash flows in foreign currency and/or uses debt in … foreign currency. …

account aggregate credit as a ratio of GDP, without distinguishing between local and foreign currency. In the Albanian … financial system, foreign currency loans comprise about fifty percent of the total credit. Due to the large share of foreign …-to-GDP gap, which extracts foreign currency fluctuations, provides a better overall performance than the standard approach. In …

Foreign-currency exposures on an economy's external balance sheet may jeopardize financial stability when the exchange … pronounced in the presence of foreign-currency exposures. Specifically, fear of floating is stronger when the foreign-currency … to financial stability in the face of depreciation pressures rather than to preemptively mitigate the buildup of foreign-currency …

household foreign currency debt during Hungary's late-2008 currency crisis. The revaluation of debt burdens leads to higher …-exporting firms, and negative spillover effects on nearby borrowers without foreign currency debt. The estimates translate into a … multiplier on higher debt service of 1.67. The impact of debt revaluation is particularly severe when foreign currency debt is …