NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Long or Short of it: Determinants of Foreign Currency Exposure in External Balance Sheets

Philip R. Lane, Jay C. Shambaugh

NBER Working Paper No. 14909
Issued in April 2009

---- Acknowledgements -----

Prepared for the IMF/WEF Conference on International Macro-Finance (Washington DC, April 24-25 2008). We thank the anonymous referees, Laura Alfaro, Chris Meissner, Cedric Tille and participants in IMF/WEF Conference on International Macro-Finance (Washington DC, April 24-25 2008), the second annual CEGE conference at UC Davis, the CGFS-BIS Workshop and a seminar at Dartmouth College. Agustín Bénétrix, Vahagn Galstyan, Barbara Pels and Martin Schmitz provided excellent research assistance. Email: plane@tcd.ie; Jay.C.Shambaugh@dartmouth.edu. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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