Currency Mismatches in Non-Financial Firms in Chile
AbstractUsing a new data base that includes the currency composition of assets and liabilities of non-financial firms, this paper examines the effects and determinants of currency mismatches in Chile. In line with previous studies, we find that after a depreciation in real terms, firms with the largest debt in dollars perform no worse than their counterparts indebted in pesos. Nonetheless, once we control properly by differences across firms in the currency composition of their assets, income and use of derivatives, significant balance sheet effects arise.
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Bibliographic InfoArticle provided by Central Bank of Chile in its journal Economía Chilena.
Volume (Year): 8 (2005)
Issue (Month): 2 (August)
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- Brown, M. & Ongena, S. & Yesin, P., 2011.
"Information Asymmetry and Foreign Currency Borrowing by Small Firms,"
2011-099, Tilburg University, Center for Economic Research.
- Martin Brown & Steven Ongena & Pinar Yesin, 2012. "Information Asymmetry and Foreign Currency Borrowing by Small Firms," Working Papers 2012-05, Swiss National Bank.
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