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Patterns in Invoicing Currency in Global Trade

Georgiadis, Georgios - 2020

provides data on the shares of exports and imports invoiced in US dollars, euros, and other currencies for more than 100 …

Persistent link: https://www.econbiz.de/10012825651

Measuring the Effectiveness of Cost and Price Competitiveness in External Rebalancing of Euro Area Countries : What Do Alternative HCIs Tell Us?

Christodoulopoulou, Styliani - 2014

This study examines the marginal effects of traditional determinants of exports and imports with a focus on the role of … harmonised competitiveness indicators (HCIs) on both exports and imports of both goods and services across individual euro area … exceptions) on exports of goods. Exports of services are sensitive to HCIs in big euro area countries and Slovakia, where exports …

Persistent link: https://www.econbiz.de/10013047096

Cross-Border Currency Exposures : New Evidence Based on an Enhanced and Updated Dataset

Bénétrix, Agustín S. - 2020

This paper provides a dataset on the currency composition of the international investment position for a group of 50 countries for the period 1990-2017. It improves available data based on estimates by incorporating actual data reported by statistical authorities and refining estimation methods....

Persistent link: https://www.econbiz.de/10012832883

Attention to the Tail(s) : Global Financial Conditions and Exchange Rate Risks

Sokol, Andrej - 2020

We document how the distribution of exchange rate returns responds to changes in global financial conditions. We measure global financial conditions as the common component of country-specific financial condition indices, computed consistently across a large panel of developed and emerging...

Persistent link: https://www.econbiz.de/10012837758

Carry Trades and Monetary Conditions

Falconio, Andrea - 2021

This paper investigates the relation between monetary conditions and the excess returns arising from an investment strategy that consists of borrowing low-interest rate currencies and investing in currencies with high interest rates, so-called "carry trade". The results indicate that carry trade...

Persistent link: https://www.econbiz.de/10013315488

The Uncovered Return Parity Condition

Cappiello, Lorenzo; De Santis, Roberto A. - 2021

This paper proposes an equilibrium relationship between expected exchange rate changes and differentials in expected returns on risky assets. We show that when expected returns on a risky asset in a certain economy are higher than the returns that are expected from investing in a risky asset in...

Persistent link: https://www.econbiz.de/10013316864

Global Risk and the Dollar

Georgiadis, Georgios; Müller, Gernot J.; Schumann, Ben - 2021

How does global risk impact the world economy? In taking up this question, we focus on the dollar’s role in the international adjustment mechanism. First, we rely on high-frequency surprises in the price of gold to identify the effects of global risk shocks in a Bayesian Proxy VAR model. They...

Persistent link: https://www.econbiz.de/10013310676

Carry Trades and Monetary Conditions

Falconio, Andrea - 2021

This paper investigates the relation between monetary conditions and the excess returns arising from currency carry trades. The results indicate that carry trade average return, Sharpe ratio and downside risk diﬀer substantially across monetary conditions before the onset of the ﬁnancial...

Persistent link: https://www.econbiz.de/10013310704

Global trade in final goods and intermediate inputs: Impact of FTAs and reduced "border effects"

Franco-Bedoya, Sebastian; Frohm, Erik - 2020

the 1970s. The decline has been 13% per year for exports of final goods and 8% for intermediate inputs, highlighting the …

Persistent link: https://www.econbiz.de/10012422072

What value added in the trade balances of euro area financial centres?

Di Nino, Virginia; Ekstam, Anna - 2020

Beside large capital flows, euro area financial centres feature important and growing trade surpluses. We investigate the composition of their gross trade flows and disentangle (i) domestic and foreign production content that is (ii) directly traded with final absorbing economies or embedded in...

Persistent link: https://www.econbiz.de/10012422168