The Non-U.S. Bank Demand for U.S. Dollar Assets /

The USD asset share of non-U.S. banks captures the demand for dollars by these investors. An instrumental variable strategy identifies a causal link from the USD asset share to the USD exchange rate. Cross-sectional asset pricing tests show that the USD asset share is a highly significant pricing fa...

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Autor principal: Adrian, Tobias
Altres autors: Xie, Peichu
Format: Revista
Idioma:English
Publicat: Washington, D.C. : International Monetary Fund, 2020.
Col·lecció:IMF Working Papers; Working Paper ; No. 2020/101
Accés en línia:Full text available on IMF