Private information, capital flows, and exchange rates /

Private information, capital flows, and exchange rates /

Saved in:
Bibliographic Details
Author / Creator:Gyntelberg, Jacob, author.
Imprint:[Washington, D.C.] : International Monetary Fund, ©2012.
Description:1 online resource (29 pages)
Language:English
Series:IMF working paper ; WP/12/213
IMF working paper ; WP/12/213.
Subject:
Capital movements -- Thailand.
Foreign exchange rates -- Thailand.
Capital movements.
Foreign exchange rates.
Thailand.
Electronic books.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/11142033
Hidden Bibliographic Details
Other authors / contributors:Loretan, Mico, author.
Tientip Subhanij, author.
International Monetary Fund. Institute for Capacity Development.
ISBN:1475562853
9781475562859
Digital file characteristics:data file
Notes:Title from PDF title page (IMF Web site, viewed Aug. 30, 2012).
"Institute for Capacity Development."
"September 2012."
Includes bibliographical references.
Summary:We demonstrate empirically that not all capital flows influence exchange rates equally: Capital flows induced by foreign investors' stock market transactions have both an economically significant and a permanent impact on exchange rates, whereas capital flows induced by foreign investors' transactions in government bond markets do not. We relate these differences in the price impact of capital flows to differences in the amounts of private information conveyed by these flows. Our empirical findings are based on novel, daily-frequency datasets on prices and quantities of all transactions of foreign investors in the stock, bond, and onshore FX markets of Thailand.

Similar Items

Similar Items