1. Publications
  2. Applied Economics Letters, 10/2014
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Devaluation Expectations Based on Cross-listed Stocks: Evidence for Financial Crises in Argentina Then and Now

I use the relative prices of American Depositary Receipts and their underlying stocks to derive devaluation expectations. I find that stockholders currently perceive an overvalued peso. Devaluation expectations are driven by the incentive of competitive devaluation and sovereign default risk.

03. April 2014

Authors Stefan Eichler

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Keywords

stock market currency crisis devaluation expectation American Depositary Receipts

JEL Classification

F31 F32 F37 G14 G15

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