01805cas a2200265 a 4500 AALejournalIMF012127 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475505634 1018-5941 BD-DhAAL BD-DhAAL Gyntelberg, Jacob. Private Information, Capital Flows, and Exchange Rates / Jacob Gyntelberg, Subhanij Tientip, Mico Loretan. Washington, D.C. : International Monetary Fund, 2012. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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 impact on exchange rates, whereas capital flows induced by foreign investors' transactions in government bond markets do not. We relate these differences in the price impact of capital flows to differences in the amounts of private information conveyed by these flows. Our empirical findings are based on novel, daily-frequency datasets on prices and quantities of all transactions of foreign investors in the stock, bond, and onshore FX markets of Thailand. Mode of access: Internet Loretan, Mico. Tientip, Subhanij. IMF Working Papers; Working Paper ; No. 2012/213 Full text available on IMF http://elibrary.imf.org/view/journals/001/2012/213/001.2012.issue-213-en.xml IMF e-Library