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Measuring Currency Mismatch and Aggregate Effective Currency Mismatch

In: TRADE CURRENCIES AND FINANCE

Author

Listed:
  • Morris Goldstein
  • Philip Turner

Abstract

A currency mismatch refers to how a change in the exchange rate will affect the present discounted value of future income and expenditure flows. This will depend on two broad elements. One is the currency denomination of financial assets and liabilities: the more sensitive the net financial worth to changes in the exchange rate, the greater, ceteris paribus, the currency mismatch. The other is the currency denomination of future income and expenditure flows (other than returns to capital assets). Once such a broad perspective is adopted, significant differences in the degree of currency mismatch are revealed both across emerging economies and over time.

Suggested Citation

  • Morris Goldstein & Philip Turner, 2017. "Measuring Currency Mismatch and Aggregate Effective Currency Mismatch," World Scientific Book Chapters, in: TRADE CURRENCIES AND FINANCE, chapter 12, pages 437-482, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814749589_0012
    as

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