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150128 ||| eng |
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|a 9781557755308
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|a De Bock, Reinout
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|a The Behavior of Currencies during Risk-off Episodes
|c Reinout De Bock, Irineu de Carvalho Filho
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|a Washington, D.C.
|b International Monetary Fund
|c 2013
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| 300 |
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|a 34 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Standards
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| 653 |
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|a Money
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| 653 |
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|a National accounts
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| 653 |
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|a Monetary Systems
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a Interest Rates: Determination, Term Structure, and Effects
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| 653 |
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|a Monetary economics
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| 653 |
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|a Investments: General
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| 653 |
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|a Exchange rates
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| 653 |
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|a Government and the Monetary System
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| 653 |
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|a Central bank policy rate
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| 653 |
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|a Investment
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Interest rates
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| 653 |
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|a Financial services
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| 653 |
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|a Intangible Capital
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| 653 |
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|a Current Account Adjustment
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| 653 |
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|a Regimes
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| 653 |
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|a Current account balance
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| 653 |
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|a Capital
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| 653 |
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|a Depreciation
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| 653 |
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|a Saving and investment
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| 653 |
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|a Foreign exchange
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| 653 |
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|a Currencies
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| 653 |
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|a Exports and Imports
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Balance of payments
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| 653 |
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|a Payment Systems
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| 653 |
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|a Currency
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| 653 |
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|a Banking
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| 653 |
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|a International economics
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| 653 |
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|a Capacity
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| 653 |
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|a Short-term Capital Movements
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| 700 |
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|a de Carvalho Filho, Irineu
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|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781557755308.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2013/008/001.2013.issue-008-en.xml?cid=40233-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a Episodes of increased global risk aversion, also known as risk-off episodes, have become more frequent and severe since 2007. During these episodes, currency markets exhibit recurrent patterns, as the Japanese yen, Swiss franc, and U.S. dollar appreciate against other G-10 and emerging market currencies. The pattern of these moves can be explained by a combination of fundamental factors, such as the nominal interest rate, the international investment position and measures of exchange rate misalignment, and market-liquidity factors, such as bid-offer spreads and restrictions on international capital flows. We also find that currency performance in a risk-off episode has become more related to a currency?s yield and relationship to broader risks in recent years
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