From Carry Trades to Trade Credit: Financial Intermediation by Non-Financial Corporations
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We use unique firm-level data from Mexico to document that non-financial corporations engage in carry trades by borrowing in foreign currency (FX) and lending in domestic currency, largely in the form of trade credit, accumulating currency risk in the process. We show at a quarterly frequency that
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美国国家经济研究局创建时间：
2023-05-01
