Using a new database on the currency composition of assets and liabilities, this paper explores the determinants and consequences of currency mismatches in Chilean non-financial firms. As in previous firm level studies for Chile, we find that in periods following a depreciation firms with higher...

This paper explores how affiliates of multinational corporations save liquidity when facing a transitory cash-flow shock. For this a panel is first built of non-publicly traded copper mines in South America between 2001 and 2012, most of them set up as Foreign Direct Investment (FDI). This...