Series: IMF Working Papers
Author(s): Jacob Gyntelberg , Subhanij Tientip , and Mico Loretan
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2012
Keywords: Order flow, private information, exchange rate models, market microstructure, bond, bond market, stock market, bonds,
We demonstrate empirically that not all capital flows influence exchange rates equally: Capital flows induced by foreign investors' stock market transactions have both an economically significant and a permanent im...