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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| Formato: | Revista |
| Lenguaje: | English |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2020.
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| Colección: | IMF Working Papers; Working Paper ;
No. 2020/101 |
| Acceso en línea: | Full text available on IMF |