@article{Krogstrup:296015,
      recid = {296015},
      author = {Krogstrup, Signe and Tille, Cédric},
      title = {Foreign currency bank funding and global factors},
      publisher = {Graduate Institute of International and Development  Studies, International Economics Department},
      address = {Geneva. 2018},
      number = {BOOK},
      series = {Graduate Institute of International and Development  Studies Working Paper ; no. 09/2018},
      pages = {62 p. : ill.},
      year = {2018},
      abstract = {The literature on drivers of capital flows stresses the  prominent role of global financial factors. Recent  empirical work, however, highlights how this role varies  across countries and time, and this heterogeneity is not  well understood. We revisit this question by focusing on  financial intermediaries' funding flows in different  currencies. A portfolio model shows that the sign and  magnitude of the response of foreign currency funding flows  to global risk factors depend on the financial  intermediary's pre-existing currency exposure. Analysis of  data on European banks' aggregate balance sheets lends  support to the model predictions, especially in countries  outside the euro area.},
      url = {http://repository.graduateinstitute.ch/record/296015},
      doi = {https://doi.org/10.71609/iheid-v5zc-nt37},
}