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Currencies of External Balance Sheets

2023-11-17 Business & Economics
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Release : 2023-11-17
Genre : Business & Economics
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Book Synopsis Currencies of External Balance Sheets by : Mr. Cian Allen

Download or read book Currencies of External Balance Sheets written by Mr. Cian Allen. This book was released on 2023-11-17. Available in PDF, EPUB and Kindle. Book excerpt: This paper assembles a comprehensive dataset of the currency composition of countries’ external balance sheets for 50 economies over the period 1990–2020. We document the following findings: (i) the US dollar and the euro still dominate global external balance sheets; (ii) there were striking changes in the currency composition across countries since the 1990s, with many emerging markets having moved from short to long positions in foreign currency, thus moving away from the so-called “original sin”; (iii) financial and tradeweighted exchange rates are weakly correlated, suggesting the commonly used trade indices do not adequately reflect the wealth effects of currency movements, and (iv) the large wealth transfers across countries during COVID-19 and the global financial crises increased global imbalances in the former, and reduced them in the latter.

External Balance Sheets and the COVID-19 Crisis

2021 COVID-19 (Disease)
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Release : 2021
Genre : COVID-19 (Disease)
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Book Synopsis External Balance Sheets and the COVID-19 Crisis by : Galina Hale

Download or read book External Balance Sheets and the COVID-19 Crisis written by Galina Hale. This book was released on 2021. Available in PDF, EPUB and Kindle. Book excerpt: At the onset of the COVID-19 economic crisis, as in other crisis episodes, the flight to safety was accompanied by a rapid appreciation of "safe haven" currencies. We quantify currency-induced balance sheet effects for total external positions as well as for individual asset classes using new data on the currency composition of cross-border assets for 48 countries for the first quarter as well as full year 2020. For the first quarter of 2020 we also conduct the stock-flow reconciliation of net international investment positions to measure overall valuation effects. We show that for many countries currency-induced valuation gains mitigated losses that resulted from declining asset prices in the first quarter of 2020. Moreover, for countries with excess capital outflows during this period, the impacts on external balance sheet positions were mitigated by valuation gains. This is because, in contrast with past financial crises, many emerging markets did not experience negative external balance sheet effects from their currency depreciation, partly due to currency-induced valuation gains on equity positions offsetting losses on debt positions, partly due to reduced currency mismatch on their external debt positions.

Debt-Related Vulnerabilities and Financial Crises - an Application of the Balance Sheet Approach to Emerging Market Countries

2004-01-07 Business & Economics
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Release : 2004-01-07
Genre : Business & Economics
Kind : eBook
Book Rating : 274/5 ( reviews)

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Book Synopsis Debt-Related Vulnerabilities and Financial Crises - an Application of the Balance Sheet Approach to Emerging Market Countries by : International Monetary Fund. Policy Development and Review Dept.

Download or read book Debt-Related Vulnerabilities and Financial Crises - an Application of the Balance Sheet Approach to Emerging Market Countries written by International Monetary Fund. Policy Development and Review Dept.. This book was released on 2004-01-07. Available in PDF, EPUB and Kindle. Book excerpt: NULL

International Reserves and Foreign Currency Liquidity

2015-01-07 Business & Economics
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Release : 2015-01-07
Genre : Business & Economics
Kind : eBook
Book Rating : 162/5 ( reviews)

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Book Synopsis International Reserves and Foreign Currency Liquidity by : International Monetary Fund. Statistics Dept.

Download or read book International Reserves and Foreign Currency Liquidity written by International Monetary Fund. Statistics Dept.. This book was released on 2015-01-07. Available in PDF, EPUB and Kindle. Book excerpt: This update of the guidelines published in 2001 sets forth the underlying framework for the Reserves Data Template and provides operational advice for its use. The updated version also includes three new appendices aimed at assisting member countries in reporting the required data.

Using the Balance Sheet Approach in Surveillance

2007-03-29 Business & Economics
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Release : 2007-03-29
Genre : Business & Economics
Kind : eBook
Book Rating : 049/5 ( reviews)

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Book Synopsis Using the Balance Sheet Approach in Surveillance by : Mr.Johan Mathisen

Download or read book Using the Balance Sheet Approach in Surveillance written by Mr.Johan Mathisen. This book was released on 2007-03-29. Available in PDF, EPUB and Kindle. Book excerpt: A distinguishing feature of emerging market crises in recent years has been the sudden disruption in the capital accounts of the economy. These crises have highlighted the need for closer attention to macroeconomic vulnerabilities in sectoral balance sheets. This book enhances application of the balance sheet approach to surveillance by taking advantage of new data sets that provide detailed, frequent, and timely financial statistics.

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