Dollar Appreciation in 2008: Safe Haven, Carry Trades, Dollar Shortage and Overhedging

By Robert N. McCauley, P. McGuire. 2012

142 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/981892b6b111ae61d7ac9aab673c803e3ade8b75

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Citations in the corpus

Getting Beyond Carry Trade: What Makes a Safe Haven Currency? (2011, background): “McCauley and McGuire (2009) stress the role of U.S. dollar shortages - which were generated by the funding of net long U.S. dollar exposure by European banks - and the role of overhedged U.S. dollar positions - resulting from write-downs of US dollar assets - in supporting the U.S. dollar exchange…”
Breaking Free of the Triple Coincidence in International Finance (2016, background): “12 See Kreicher et al (2014) and McCauley and McGuire (2014) on the impact of the widening of the FDIC assessment base on the claims of foreign banks in the United States on the rest of the world.”
The Financial Crisis and the Geography of Wealth Transfers (2011, unknown): “We build on the careful and timely work of Milesi-Ferretti et al. (2010) who construct a dataset of bilateral gross and net external positions on the eve of the financial crisis for countries and groups of countries accounting for more than 97% of global external assets and liabilities.”
Reforming the International Monetary System (2011, unknown): “Table 1 (extracted from McCauley and McGuire 2009 ) illustrates this flight to T‐bills at the height of the crisis—immediately following the collapse of Lehman Brothers, an American investment bank.”
Global Imbalances and the Financial Crisis: Link or No Link? (2011, unknown): “Indeed, as the crisis unfolded, the US dollar actually appreciated (McCauley and McGuire (2010)).”
What precious metals act as safe havens, and when? Some US evidence (2015, unknown): “…to be safe haven 2007–2009 Gómez-Puig (2009) Government bonds from EMU countries have a better safe haven status that those of nonEMU countries 1998–2005 Mccauley and Mcguire (2009) US dollar Late 2008 Hammoudeh et al. (2010) Gold as the strongest compared to oil, silver and copper…”
Oil Prices, Exchange Rates and Emerging Stock Markets (2011, unknown): “The global flight to safety into US Treasury bills during the recent financial crisis had in turn strengthened the US dollar (see, McCauley and McGuire, 2009).”
Limits to arbitrage during the crisis: funding liquidity constraints and covered interest parity (2011, unknown): “These are Mitchell, Pedersen, and Pulvino (2007) focusing on the convertible bond market, and, during the recent financial crisis, Mitchell and Pulvino (2011) and Garleanu and Pedersen (2011), both addressing the CDS and bond yield spread.”