Pass-Through, Exposure, and the Currency Composition of Debt
نویسندگان
چکیده
منابع مشابه
Pass-through, Exposure, and the Currency Composition of Debt
I propose a model of production and financing for firms in an open economy, which features financial frictions and imperfect competition in the domestic goods market. The optimal currency composition of debt comes from the motive to hedge currency exposure, which arises from the industry equilibrium in the domestic goods market. Using a panel dataset of traded Mexican firms, I find evidence tha...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2010
ISSN: 1556-5068
DOI: 10.2139/ssrn.1509779