Private Information, Capital Flows, and Exchange Rates

Working Paper No. 12/213

We demonstrate empirically that not all capital flows influence exchange rates equally: Capital flows induced by foreign investors' stock market transactions have both an economically significant and a permanent impact on exchange rates, whereas capital flows induced by foreign investors' transactions in government bond markets do not. We relate... READ MORE...

Publication date: August 2012
ISBN 9781475505634

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Publication date: August 2012