Monetary policy and portfolio choice in an open economy macro model

被引：22

作者：

Devereux, Michael B. ^{[1
]}

Sutherland, Alan

机构：

[1] Univ British Columbia, Vancouver, BC V5Z 1M9, Canada

[2] Univ St Andrews, St Andrews KY16 9AJ, Fife, Scotland

来源：

JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION | 2007年 / 5卷 / 2-3期

基金：

英国经济与社会研究理事会;

关键词：

D O I：

10.1162/jeea.2007.5.2-3.491

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper explores the role of monetary policy in an open economy in an environment of endogenous portfolio choice. The model is dimple enough to allow solutions for optimal portfolios to be derived analytically for a range of different asset market environments. We explore the impact of monetary policy on national bond and equity portfolios in environments where assets markets are either complete or incomplete.

引用

页码：491 / 499

页数：9