Munich Personal RePEc Archive

The Anatomy of Large Valuation Episodes

Bénétrix, Agustín S. (2007): The Anatomy of Large Valuation Episodes.

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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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