How Long to Read The Dominant Currency Financing Channel of External Adjustment

How Long Does it Take to Read The Dominant Currency Financing Channel of External Adjustment?

It takes the average reader 1 hour and 21 minutes to read The Dominant Currency Financing Channel of External Adjustment by Camila Casas

Assuming a reading speed of 250 words per minute. Learn more

Description

We provide evidence of a new channel through which exchange rates affect trade. Using a novel identification strategy that exploits firms’ maturity structure of foreign currency debt around a large depreciation in Colombia, we show that firms experiencing a stronger debt revaluation of dominant currency debt due to a home currency depreciation compress imports relatively more while exports are unaffected. Dominant currency financing does not lead to an import compression for firms that export, hold foreign currency assets, or are active in the foreign exchange derivatives markets, as they are all hedged against a revaluation of their debt. These findings can be rationalized through the prism of a model with costly state verification and foreign currency borrowing. Quantitatively, the dominant currency financing channel explains a significant part of the external adjustment process in addition to the expenditure switching channel. Pricing exports in the dominant currency, instead of the producer’s currency, mutes the effect of dominant currency financing on trade flows.

How long is The Dominant Currency Financing Channel of External Adjustment?

The Dominant Currency Financing Channel of External Adjustment by Camila Casas is 81 pages long, and a total of 20,331 words.

This makes it 27% the length of the average book. It also has 25% more words than the average book.

How Long Does it Take to Read The Dominant Currency Financing Channel of External Adjustment Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 51 minutes to read The Dominant Currency Financing Channel of External Adjustment aloud.

What Reading Level is The Dominant Currency Financing Channel of External Adjustment?

The Dominant Currency Financing Channel of External Adjustment is suitable for students ages 10 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy The Dominant Currency Financing Channel of External Adjustment?

The Dominant Currency Financing Channel of External Adjustment by Camila Casas is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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