The Non U S Bank Demand For U S Dollar Assets
Download The Non U S Bank Demand For U S Dollar Assets full books in PDF, epub, and Kindle. Read online free The Non U S Bank Demand For U S Dollar Assets ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
The Non U S Bank Demand for U S Dollar Assets
Author | : Mr.Tobias Adrian,Peichu Xie |
Publsiher | : International Monetary Fund |
Total Pages | : 46 |
Release | : 2020-06-19 |
Genre | : Business & Economics |
ISBN | : 9781513547732 |
Download The Non U S Bank Demand for U S Dollar Assets Book in PDF, Epub and Kindle
The USD asset share of non-U.S. banks captures the demand for dollars by these investors. An instrumental variable strategy identifies a causal link from the USD asset share to the USD exchange rate. Cross-sectional asset pricing tests show that the USD asset share is a highly significant pricing factor for carry trade strategies. The USD asset share forecasts the dollar with economically large magnitude, high statistical significance, and large explanatory power, both in sample and out of sample, pointing towards time varying risk premia. It takes 2-5 years for exchange rate risk premia to normalize in response to demand shocks.
Dollar Funding and the Lending Behavior of Global Banks
![Dollar Funding and the Lending Behavior of Global Banks](https://youbookinc.com/wp-content/uploads/2024/06/cover.jpg)
Author | : Victoria Ivashina |
Publsiher | : Unknown |
Total Pages | : 51 |
Release | : 2015 |
Genre | : Electronic Book |
ISBN | : OCLC:1308417558 |
Download Dollar Funding and the Lending Behavior of Global Banks Book in PDF, Epub and Kindle
A large share of dollar-denominated lending is done by non-U.S. banks, particularly European banks. We present a model in which such banks cut dollar lending more than euro lending in response to a shock to their credit quality. Because these banks rely on wholesale dollar funding, while raising more of their euro funding through insured retail deposits, the shock leads to a greater withdrawal of dollar funding. Banks can borrow in euros and swap into dollars to make up for the dollar shortfall, but this may lead to violations of covered interest parity (CIP) when there is limited capital to take the other side of the swap trade. In this case, synthetic dollar borrowing also becomes expensive, which causes cuts in dollar lending. We test the model in the context of the Eurozone sovereign crisis, which escalated in the second half of 2011 and resulted in U.S. money-market funds sharply reducing their exposure to European banks in the year that followed. During this period dollar lending by Eurozone banks fell relative to their euro lending, and firms who were more reliant on Eurozone banks before the Eurozone crisis had a more difficult time borrowing.
Covered Interest Parity Deviations Macrofinancial Determinants
Author | : Mr.Eugenio M Cerutti,Mr.Maurice Obstfeld,Haonan Zhou |
Publsiher | : International Monetary Fund |
Total Pages | : 36 |
Release | : 2019-01-16 |
Genre | : Business & Economics |
ISBN | : 9781484395219 |
Download Covered Interest Parity Deviations Macrofinancial Determinants Book in PDF, Epub and Kindle
For about three decades until the Global Financial Crisis (GFC), Covered Interest Parity (CIP) appeared to hold quite closely—even as a broad macroeconomic relationship applying to daily or weekly data. Not only have CIP deviations significantly increased since the GFC, but potential macrofinancial drivers of the variation in CIP deviations have also become significant. The variation in CIP deviations seems to be associated with multiple factors, not only regulatory changes. Most of these do not display a uniform importance across currency pairs and time, and some are associated with possible temporary considerations (such as asynchronous monetary policy cycles).
The U S Balance of Payments and the International Role of the Dollar
Author | : Raymond F. Mikesell |
Publsiher | : Unknown |
Total Pages | : 164 |
Release | : 1970 |
Genre | : Business & Economics |
ISBN | : STANFORD:36105120861492 |
Download The U S Balance of Payments and the International Role of the Dollar Book in PDF, Epub and Kindle
Annual Report on Exchange Arrangements and Exchange Restrictions 2018
Author | : International Monetary Fund. Monetary and Capital Markets Department |
Publsiher | : International Monetary Fund |
Total Pages | : 3724 |
Release | : 2019-04-16 |
Genre | : Business & Economics |
ISBN | : 9781484396773 |
Download Annual Report on Exchange Arrangements and Exchange Restrictions 2018 Book in PDF, Epub and Kindle
The Annual Report on Exchange Arrangements and Exchange Restrictions has been published by the IMF since 1950. It draws on information available to the IMF from a number of sources, including that provided in the course of official staff visits to member countries, and has been prepared in close consultation with national authorities.
What Drives Global Capital Flows
Author | : B. Brown |
Publsiher | : Springer |
Total Pages | : 264 |
Release | : 2006-07-12 |
Genre | : Business & Economics |
ISBN | : 9780230627291 |
Download What Drives Global Capital Flows Book in PDF, Epub and Kindle
Capital flows from Asia into the US challenge many assumptions of international financial analysis. This book presents a novel geography of these flows, revealing their driving forces and assessing the market mechanisms necessary for a smooth global flow of funds. It is essential for all those interested in international finance.
The Federal Reserve System Purposes and Functions
Author | : Board of Governors of the Federal Reserve System |
Publsiher | : Unknown |
Total Pages | : 0 |
Release | : 2002 |
Genre | : Banks and Banking |
ISBN | : 0894991965 |
Download The Federal Reserve System Purposes and Functions Book in PDF, Epub and Kindle
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Global Financial Stability Report April 2018
Author | : International Monetary Fund. Monetary and Capital Markets Department |
Publsiher | : International Monetary Fund |
Total Pages | : 152 |
Release | : 2018-04-18 |
Genre | : Business & Economics |
ISBN | : 9781484338292 |
Download Global Financial Stability Report April 2018 Book in PDF, Epub and Kindle
The April 2018 Global Financial Stability Report (GFSR) finds that short-term risks to financial stability have increased somewhat since the previous GFSR. Medium-term risks are still elevated as financial vulnerabilities, which have built up during the years of accommodative policies, could mean a bumpy road ahead and put growth at risk. This GFSR also examines the short- and medium-term implications for downside risks to growth and financial stability of the riskiness of corporate credit allocation. It documents the cyclical nature of the riskiness of corporate credit allocation at the global and country levels and its sensitivity to financial conditions, lending standards, and policy and institutional settings. Another chapter analyzes whether and how house prices move in tandem across countries and major cities around the world—that is, global house price synchronicity.