Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/119498
Authors: 
Blank, Sven
Year of Publication: 
2009
Series/Report no.: 
FINESS Working Paper D.4.4
Abstract: 
This project aims at analyzing the impact of monetary policy on the international allocation of risk in a two-country dynamic stochastic general equilibrium model with sticky prices and international portfolio choice. The model features endogenous firms entry which influences the evolution of equity in each country and alters real exchange rate dynamics. Preliminary results show that there may be substantial deviations from efficient consumption risk sharing in the presence of monetary policy when there are frictions in goods as well as asset markets.
Subjects: 
International portfolio choice
consumption risk sharing
monetary policy
frictions
JEL: 
F32
F42
E44
Document Type: 
Working Paper

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