Currency Mismatches in Non-Financial Firms in Chile
Kevin Cowan (),
Erwin Hansen and
Luis Óscar Herrera B.
Journal Economía Chilena (The Chilean Economy), 2005, vol. 8, issue 2, 57-82
Using 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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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchec:v:8:y:2005:i:2:p:57-82
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