The anatomy of large valuation episodes |
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Authors: | Agustín S Bénétrix |
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Institution: | (1) Department of Economics, Institute for International Integration Studies, Trinity College Dublin, Arts Building, Dublin 2, Ireland |
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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. |
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Keywords: | |
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