A Fiscal Theory of the Currency Risk Premium and of Sterilized Intervention /
This paper develops a dynamic stochastic general equilibrium monetary portfolio choice model that accomplishes two objectives. First, it provides a theory of currency risk premia based on a weak and plausible form of fiscal nonneutrality. Domestic and foreign bonds become imperfect substitutes, the...
| 1. autor: | |
|---|---|
| Kolejni autorzy: | |
| Format: | Czasopismo |
| Język: | English |
| Wydane: |
Washington, D.C. :
International Monetary Fund,
2002.
|
| Seria: | IMF Working Papers; Working Paper ;
No. 2002/029 |
| Dostęp online: | Full text available on IMF |