Exchange Rate Fluctuations and Firm Leverage.
We quantify the effect of exchange rate fluctuations on firm leverage. When home currency appreciates, firms who hold foreign currency debt and local currency assets observe higher net worth as appreciation lowers the value of their foreign currency debt. These firms can borrow more as a result and...
| フォーマット: | 雑誌 |
|---|---|
| 言語: | English |
| 出版事項: |
Washington, D.C. :
International Monetary Fund,
2020.
|
| シリーズ: | IMF Working Papers; Working Paper ;
No. 2020/283 |
| オンライン･アクセス: | Full text available on IMF |