| 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 |
|