Dallas Fed studies debt impact on exchange rate fluctuations
Research analyses a sample of 42 exchange rates against the dollar during 2008
Currencies in countries with high levels of non-foreign direct investment as external debt depreciate more during a financial panic, according to research published yesterday by the Federal Reserve Bank of Dallas.
In the economic letter, External debt sheds light on drivers of exchange rate fluctuations, J. Scott Davis analyses a sample of 42 countries' exchange rates against the dollar during 2008, both before and after the collapse of Lehman Brothers.
Countries that are most vulnerable to a
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