Original Sin Redux: Role of Duration Risk
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下载链接：
https://www.nber.org/papers/w33816
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资源简介：
We highlight the role of duration and exchange rate risks on portfolio flows by using a unique and comprehensive database of US investor flows into emerging market government bonds denominated in local currency. Borrowing long-term mitigates roll-over risk but amplifies valuation changes that
提供机构：
美国国家经济研究局
创建时间：
2025-05-01
