Title |
A positive theory of foreign currency debt |
|---|---|
Abstract |
Presents a case for foreign currency debt which is a hedging device in an open economy subject to stochastic shocks to output. Possibility of government reducing uncertainty in net wealth and in consumption by issuing foreign or domestic currency debt in the event of the negative correlation of unexpected domestic and foreign inflation with domestic output. |
Review |
Journal of International Economics |
Volume |
29 (3/4) |
Author(s) |
Bohn Henning - Department of Finance, the Wharton School, University of Pennsylvania, Philadelphia |
Language |
English |
ISSN |
00221996 |
Publisher |
Elsevier Science |
Place of Publication |
Amsterdam, The Netherlands |
Date of Publication |
1990 |
Number of pages |
20 |
Initial pages |
273 |
Final pages |
292 |
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