Monetary policy and portfolio choice in an open economy macro model

Michael B. Devereux; Alan Sutherland

doi:10.1162/jeea.2007.5.2-3.491

Monetary policy and portfolio choice in an open economy macro model

Research output: Contribution to journal › Article › peer-review

Abstract

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.

Original language	English
Pages (from-to)	491-499
Number of pages	9
Journal	Journal of the European Economic Association
Volume	5
DOIs	https://doi.org/10.1162/jeea.2007.5.2-3.491
Publication status	Published - Apr 2007

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10.1162/jeea.2007.5.2-3.491

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Monetary policy and portfolio choice in an open economy macro model

Abstract

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ESRC RES-156-25-0027: Monetary policy welfare and the structure of international financial markets

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Monetary policy and portfolio choice in an open economy macro model

Abstract

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Projects

ESRC RES-156-25-0027: Monetary policy welfare and the structure of international financial markets

Cite this