Integration of financial markets and national price levels:the role of exchange rate volatility
| Year of publication: |
2008-03-25
|
|---|---|
| Authors: | Hoffmann, Mathias ; Tillmann, Peter |
| Institutions: | Deutsche Bundesbank <Frankfurt, Main> / Volkswirtschaftliche Forschungsgruppe |
| Subject: | Integration | Internationaler Kreditmarkt | International credit market | Risikoprämie | Wechselkurs | Preisniveau |
- 1 Introduction
- 2 The model
- 2.1 Preferences and prices
- 2.2 The budget constraint
- 2.3 Households’ optimality conditions andmoney supply
- 2.4 Firms’ optimal price setting
- 2.5 International asset markets
- 2.6 National price levels and the exchange rate regime
- 3 Empirical Evidence
- 3.1 Measurement issues
- 3.2 The estimation strategy
- 3.3 A first look at the data
- 3.4 The role of the exchange rate regime
- 4 Conclusions
- 5 Appendix: The list of countries
Persistent link: https://www.econbiz.de/10005866185