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Full-Text Articles in International Economics
Intrafirm Trade And Product Contractibility, Andrew B. Bernard, J. Bradford Jensen, Stephen J. Redding, Peter K. Schott
Intrafirm Trade And Product Contractibility, Andrew B. Bernard, J. Bradford Jensen, Stephen J. Redding, Peter K. Schott
Dartmouth Scholarship
No abstract provided.
Financial Exchange Rates And International Currency Exposures, Philip R. Lane, Jay C. Shambaugh
Financial Exchange Rates And International Currency Exposures, Philip R. Lane, Jay C. Shambaugh
Dartmouth Scholarship
In order to gain a better empirical understanding of the international financial implications of currency movements, we construct a database of international currency exposures for a large panel of countries over 1990-2004. We show that trade-weighted exchange rate indices are insufficient to understand the financial impact of currency movements and that our currency measures have high explanatory power for the valuation term in net foreign asset dynamics. Exchange rate valuation shocks are sizable, not quickly reversed, and may entail substantial wealth redistributions. Further, we show that many developing countries have substantially reduced their negative foreign currency positions over the last …