We propose a new channel through which exchange rates affect trade. Exploiting the heterogeneity in firms' foreign … currency debt maturity structure around a large depreciation in Colombia, we show that debt revaluation compresses imports due …

presence of foreign currency mortgages in Hungary and study this country's comprehensive credit registry. Changes in monetary … "bank-lending-to-households" channel of monetary policy that is heterogeneous. While the availability of foreign currency … their foreign currency lending are more sensitive to changes in monetary conditions. …

This paper studies the consumption response to an increase in the domestic value of foreign currency household debt …'s 2008 currency crisis. We find that, relative to similar local currency debtors, foreign currency debtors reduce consumption … of adjustment to the shock. Foreign currency debtors reduce both the quantity and quality of expenditures, consistent …

economy (the advanced) are subject to a foreign currency working capital constraint. Domestic firms are assumed to finance …