NZFC - Monetary policy and risk in the open economy

ARX Administrator    Anella Munro
13 Mar 2018
Category: Currency

Country or region: Vietnam

Under modest assumptions, variations in asset prices and returns mainly reflect variations in risk. I propose a general equilibrium, two-country model that incorporates risk premia (eg. sovereign, inflation, liquidity risk) in asset prices and returns. In the model with risk, monetary policy (i) determines the short-term nominal interest rate, but ......

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