(1) | (2) | (3) | (4) | (5) | |
---|---|---|---|---|---|
Dependent variable A: currency excess return | |||||
Constant × 10−3 | − 3.426 (2.797) | − 1.561 (1.431) | − 0.349 (0.523) | − 1.065*** (0.204) | − 0.601 (0.515) |
Centrality × 10−3 | − 1.411 (3.911) | − 2.091 (2.954) | − 422.029*** (105.253) | − 0.017*** (0.004) | − 4.044* (2.076) |
Centrality × COVID19 | 0.016*** (0.002) | 0.020*** (0.004) | 2.516*** (0.311) | 0.054** (0.027) | 0.004* (0.0021) |
Country FE | Yes | Yes | Yes | Yes | Yes |
No. of obs | 4797 | 4797 | 4797 | 4797 | 4797 |
Adj. R2 within | 0.009 | 0.000 | 0.013 | 0.002 | 0.001 |
Dependent variable B: currency forward spread | |||||
Constant × 10−3 | 5.032** (2.026) | 4.425*** (0.998) | 2.622*** (0.308) | 2.756*** (0.139) | 2.806*** (0.235) |
Centrality × 10−3 | − 1.151 (4.414) | − 3.796 (2.513) | − 9.605 (6.851) | − 0.003 (0.002) | − 1.189 (0.094) |
Centrality × COVID19 | − 0.003 (0.003) | − 0.001 (0.001) | − 0.181 (0.207) | − 0.036 (0.025) | − 0.001 (0.207) |
Country FE | Yes | Yes | Yes | Yes | Yes |
No. of obs | 4797 | 4797 | 4797 | 4797 | 4797 |
Adj. R2 within | 0.003 | 0.005 | 0.001 | 0.007 | 0.002 |