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The International Diversification Puzzle when Goods Prices are Sticky.
This paper develops a two-country monetary DSGE model in which households choose a portfolio of home and foreign equities, and a forward position in foreign exchange. Some nominal goods prices are sticky. Trade in these assets achieves the same allocations as trade in a complete set of nominal state...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington :
International Monetary Fund,
2009.
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| Colección: | IMF Working Papers.
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| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 020 | |a 9781451988284 | ||
| 020 | |a 1451988281 | ||
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| 035 | |a (OCoLC)870244634 | ||
| 050 | 4 | |a HG6024 |b .E64 2009 | |
| 049 | |a UAMI | ||
| 100 | 1 | |a Matsumoto, Akito. | |
| 245 | 1 | 4 | |a The International Diversification Puzzle when Goods Prices are Sticky. |
| 260 | |a Washington : |b International Monetary Fund, |c 2009. | ||
| 300 | |a 1 online resource (49 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF Working Papers | |
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a I. Introduction; II. A General Result in a Static Framework; III. A Simple Equilibrium Static Model; A. Households; B. Firms; C. Solution of the Static Model; IV. Dynamic Model; A. Household Problem; B. Firms; C. Solution of the Dynamic Model; D. Calibrated Portfolios; V. Conclusion; Table; 1. Optimal Portfolio Shares of Foreign Equities; Appendix; References. | |
| 520 | |a This paper develops a two-country monetary DSGE model in which households choose a portfolio of home and foreign equities, and a forward position in foreign exchange. Some nominal goods prices are sticky. Trade in these assets achieves the same allocations as trade in a complete set of nominal state-contingent claims in our linearized model. When there is a high degree of price stickiness, we show that not much equity diversification is required to replicate the complete-markets equilibrium when agents are able to hedge foreign exchange risk sufficiently. Moreover, temporarily sticky nominal g. | ||
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Hedging (Finance) | |
| 650 | 0 | |a Foreign exchange rates. | |
| 650 | 0 | |a Money |v Tables. | |
| 650 | 6 | |a Couverture (Finances) | |
| 650 | 6 | |a Taux de change. | |
| 650 | 7 | |a Money |2 fast | |
| 650 | 7 | |a Foreign exchange rates |2 fast | |
| 650 | 7 | |a Hedging (Finance) |2 fast | |
| 655 | 7 | |a Tables |2 fast | |
| 700 | 1 | |a Engel, Charles. | |
| 776 | 0 | 8 | |i Print version: |a Matsumoto, Akito. |t International Diversification Puzzle when Goods Prices are Sticky: It's Really about Exchange-Rate Hedging, not Equity Portfolios. |d Washington : International Monetary Fund, ©2009 |z 9781451871593 |
| 830 | 0 | |a IMF Working Papers. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1605877 |z Texto completo |
| 938 | |a EBL - Ebook Library |b EBLB |n EBL1605877 | ||
| 938 | |a YBP Library Services |b YANK |n 11618011 | ||
| 994 | |a 92 |b IZTAP | ||