Arbeitspapier
Real financial market exchange rates and capital flows
Foreign exchange rates, asset prices and capital movements are expected to be closely related to each other as international capital markets become more and more integrated. This paper provides new empirical evidence from an index of exchange-rate adjusted cross-country asset price ratios, which may be interpreted as a real effective financial exchange rate. The integrated stock-flow approach reveals that a county's real effective financial exchange rate is co-integrated with international investors' net foreign holding of its assets. The associated error correction equations have useful interpretations against the backdrop of uncovered return parity and investor portfolio rebalancing behavior.
- Sprache
-
Englisch
- Erschienen in
-
Series: Kiel Working Paper ; No. 1945
- Klassifikation
-
Wirtschaft
Foreign Exchange
International Financial Markets
Central Banks and Their Policies
- Thema
-
Real Effective Exchange Rate
Capital Flows
Financial Markets
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Gelman, Maria
Jochem, Axel
Reitz, Stefan
Taylor, Mark P.
- Ereignis
-
Veröffentlichung
- (wer)
-
Kiel Institute for the World Economy (IfW)
- (wo)
-
Kiel
- (wann)
-
2014
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Gelman, Maria
- Jochem, Axel
- Reitz, Stefan
- Taylor, Mark P.
- Kiel Institute for the World Economy (IfW)
Entstanden
- 2014
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