المستودع الأكاديمي جامعة المدينة

Home-Product Bias, Capital Mobility, and the Effects of Monetary Policy Shocks in Open Economies

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dc.creator Pierdzioch, Christian
dc.date 2003
dc.date.accessioned 2013-10-16T06:56:56Z
dc.date.available 2013-10-16T06:56:56Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/17818
dc.identifier ppn:362664846
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/17818
dc.description This paper uses a dynamic general equilibrium two-country optimizing model to analyze the consequences of international capital mobility for the effects of monetary policy in open economies. The model shows that the difference between the short-run output effects of monetary policy shocks in a world of high capital mobility and those in a world of low capital mobility decreases if households have a home-product bias in preferences. This result implies that, in contrast to conventional wisdom derived from the textbook Mundell-Fleming model, the empirically observed integration of international financial markets need not result in a significant change in the propagation of monetary policy shocks if households have a strong bias for consuming home products.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Kieler Arbeitspapiere 1141
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject F41
dc.subject F36
dc.subject F32
dc.subject ddc:330
dc.subject Monetary Policy
dc.subject Capital mobility
dc.subject Home-product bias
dc.subject Geldpolitik
dc.subject Schock
dc.subject Makroökonomischer Einfluß
dc.subject Internationale Kapitalmobilität
dc.subject Konsumentenverhalten
dc.subject Offene Volkswirtschaft
dc.subject Neue Makrooekonomik offener Volkswirtschaften
dc.subject Theorie
dc.subject home bias
dc.title Home-Product Bias, Capital Mobility, and the Effects of Monetary Policy Shocks in Open Economies
dc.type doc-type:workingPaper


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