Foreign Safe Asset Demand and the Dollar Exchange Rate
收藏NBER2018-03-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w24439
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资源简介：
We develop a theory that links the U.S. dollars valuation in FX markets to the convenience yield that foreign investors derive from holding U.S. safe assets. We show that this convenience yield can be inferred from the Treasury basis: the yield gap between U.S. government and currency-hedged foreign
提供机构：
美国国家经济研究局
创建时间：
2018-03-01
