Carry Trades and Currency Crashes
收藏NBER2008-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w14473
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资源简介：
This paper documents that carry traders are subject to crash risk: i.e. exchange rate movements between high-interest-rate and low-interest-rate currencies are negatively skewed. We argue that this negative skewness is due to sudden unwinding of carry trades, which tend to occur in periods in which
提供机构：
美国国家经济研究局
创建时间：
2008-11-01
