The Quarterly Journal of Economics· 2015Q1

International Liquidity and Exchange Rate Dynamics*

Xavier Gabaix, Matteo Maggiori

826citations
Q1SCImago
2015year

Short summary

Exchange rates are driven by capital flows altering financier balance sheets, not just macroeconomic fundamentals, leading to increased volatility and impacting output and risk sharing.

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Field: General Economics, Econometrics and Finance

General Economics, Econometrics and FinanceEconomics, Econometrics and Finance