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The anatomy of large valuation episodes

[journal article]

Bénétrix, Agustín S.

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Abstract We examine cases in which there is a large shift in a country's net foreign asset position due to the re-valuation of its foreign assets and/or foreign liabilities. We highlight the differences in large valuation shocks between countries characterized by large gross stocks of foreign assets and foreign liabilities and countries exhibiting large net external positions. Finally, we analyze macroeconomic dynamics in the neighborhood of large valuation episodes.
Classification Political Economy
Free Keywords International financial integration; Valuation channel; Valuation episodes; F32; F36
Document language English
Publication Year 2009
Page/Pages p. 489-511
Journal Review of World Economics, 145 (2009) 3
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)