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The Anatomy of Large Valuation Episodes

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  • Agustín Bénétrix

Abstract

We examine episodes in which there is a large shift in a country’s net foreign asset position due to the re-valuation of its foreign assets and/or liabilities. We highlight the differences in large valuation episodes between countries characterized by large gross stocks of foreign assets and liabilities and countries exhibiting large net positions. Finally, we analyze macroeconomic dynamics in the neighborhood of large valuation episodes.

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Paper provided by IIIS in its series The Institute for International Integration Studies Discussion Paper Series with number iiisdp227.

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Date of creation: 08 Aug 2007
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Handle: RePEc:iis:dispap:iiisdp227

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  1. Guillermo A. Calvo & Alejandro Izquierdo & Luis-Fernando Mejia, 2004. "On the Empirics of Sudden Stops: The Relevance of Balance-Sheet Effects," NBER Working Papers 10520, National Bureau of Economic Research, Inc.
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