Financial Globalization and Monetary Policy:
Gespeichert in:
Bibliographische Detailangaben
Beteilige Person: Devereux, Michael B. (VerfasserIn)
Format: Elektronisch E-Book
Sprache:Englisch
Veröffentlicht: Washington, D.C International Monetary Fund 2007
Schriftenreihe:IMF Working Papers Working Paper No. 07/279
Links:http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
http://elibrary.imf.org/view/IMF001/08562-9781451868425/08562-9781451868425/08562-9781451868425.xml
Abstract:What does financial globalization imply for the design of monetary policy? Does the case for price stability change in an environment of large cross country gross asset holdings? This paper is concerned with the effects of monetary policy under endogenous international portfolio choice and incomplete markets. With endogenous portfolios, monetary policy takes on new importance due to its impact on the distribution of returns on nominal assets. Surprisingly, we find an even stronger case for price stability in this environment. Even without nominal rigidities, price stability has a welfare benefit by enhancing the risk sharing capacity of nominal bond returns
Umfang:1 Online-Ressource (32 p)
ISBN:1451868421
9781451868425