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The Anatomy of Large Valuation Episodes+

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.

JEL :

F32, F36


Last updated 28 August 2014 by IIIS (Email).