Price stability with imperfect financial integration

Journal of Money, Credit and Banking

Volumn 41, Issue SUPPL. 1, 2009, Pages 121-149

  Benigno, Pierpaolo ^a  

^a LUISS UNIVERSITY   (Italy)

Author keywords

International cooperation; Monetary policy; Price stability

Indexed keywords

EID: 58849149415     PISSN: 00222879     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1538-4616.2008.00201.x     Document Type: Conference Paper

References (43)

1. Baxter, Marianne 1995 International Trade and Business Cycles In Handbook of International Economics, edited by Gene M. Grossman and Kenneth Rogoff. North Holland : Elsevier.
2. Baxter, Marianne, and Mario Crucini 1995 Business Cycles and the Asset Structure of Foreign Trade International Economics Review, 36, 821 54.
3. Barsky, Robert, F. Thomas Juster, Miles S. Kimball, and Matthew D. Shapiro 1987 Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Study Quarterly Journal of Economics, 112, 537 79.
4. Benigno, Gianluca, and Pierpaolo Benigno 2003 Price Stability in Open Economies Review of Economic Studies, 70, 743 64.
5. Benigno, Gianluca, and Pierpaolo Benigno 2006 Designing Targeting Rules for International Monetary Policy Cooperation Journal of Monetary Economics, 53, 473 506.
6. Benigno, Gianluca, and Christoph Thoenissen 2003 Equilibrium Exchange Rate and Supply-Side Perfomance Economic Journal, 113, 103 24.
7. Benigno, Gianluca, and Christoph Thoenissen 2007 Consumption and Real Exchange Rates with Incomplete Markets and Non-traded Goods Journal of International Money and Finance, 27, 926 48.
8. Benigno, Pierpaolo 2001 Price Stability with Imperfect Financial Integration CEPR Discussion Paper No. 2854.
9. Benigno, Pierpaolo Forthcoming Are Valuation Effects Desirable from a Global Perspective Journal of Development Economics.
10. Benigno, Pierpaolo, and Michael Woodford 2006 Linear-Quadratic Approximation of Optimal Policy Problems NBER Working Paper No. 12672.
11. Calvo, Guillermo 1983 Staggered Prices in a Utility-Maximizing Framework Journal of Monetary Economics, 12, 383 98.
12. Cole, Harold, and Maurice Obstfeld 1991 Commodity Trade and International Risksharing: How Much do Financial Markets Matter Journal of Monetary Economics, 28, 3 24.
13. Corsetti, Giancarlo, and Paolo Pesenti 2001 Welfare and Macroeconomics Interdependence Quarterly Journal of Economics, 116, 421 46.
14. Corsetti, Giancarlo, and Paolo Pesenti 2006 International Dimension of Optimal Monetary Policy Journal of Monetary Economics, 52, 281 305.
15. Devereux, Michael B., and Charles Engel 2003 Monetary Policy in the Open Economy Revisited: Price Setting and Exchange Rate Flexibility Review of Economic Studies, 70, 765 83.
16. Devereux, Michael B., and Charles Engel 2007 Expenditure Switching vs. Real Exchange Rate Stabilization: Competing Objectives for Exchange Rate Policy Journal of Monetary Economics, 54, 2346 74.
17. Devereux, Michael B., and Alan Sutherland 2006 Solving for Country Portfolios in Open Economy Macro Models Unpublished manuscript.
18. Devereux, Michael B., and Alan Sutherland 2007 Monetary Policy and Portfolio Choice in an Open Economy Macro Model Journal of the European Economic Association, 5, 491 9.
19. Eichenbaum, Martin, Lars Peter Hansen, and Kenneth J. Singleton 1988 A Time Series Analysis of Representative Agent Models of Consumption and Leisure Choice under Uncertainty Quarterly Journal of Economics, 103, 51 78.
20. Ghironi, Fabio, Jaewoo Lee, and Alessandro Rebucci 2006 The Valuation Channel of External Adjustment Unpublished manuscript, Boston College.
21. Harrigan, Jim 1993 OECD Imports and Trade Barriers in 1983 Journal of International Economics, 35, 91 111.
22. Kim, Jinill, Kim Sunghyun, and Andrew Levin 2003 Patience, Persistence, and Welfare Costs of Incomplete Markets in Open Economies Journal of International Economics, 61, 385 96.
23. Kollmann, Robert 2002 Monetary Policy Rules in the Open Economy: Effects on Welfare and Business Cycles Journal of Monetary Economics, 49, 989 1015.
24. Kollmann, Robert 2003 Monetary Policy Rules in an Interdependent World CEPR Discussion Paper No. 4012.
25. Lane, Philip R., and Gian Maria Milesi-Ferretti 2002 Long-Term Capital Movements In NBER Macroeconomics Annual 16. Cambridge, MA : MIT Press.
26. Lane, Philip R., and Gian Maria Milesi-Ferretti 2005 A Global Perspective on External Positions In G7 Current Account Imbalances: Sustainability and Adjustment, edited by Richard Clarida. Chicago : University of Chicago Press.
27. Lane, Philip R., and Gian Maria Milesi-Ferretti 2007 Europe and Global Imbalances Economic Policy, 22, 519 73.
28. Lewis, Karen 1996 What Can Explain the Apparent Lack of International Consumption Risksharing Journal of Political Economy, 103, 267 97.
29. Mendoza, Enrique 1995 The Terms of Trade, the Real Exchange Rate and Economic Fluctuations International Economic Review, 36, 101 37.
30. Obstfeld, Maurice 1994 Risk-taking, Global Diversification, and Growth American Economic Review, 84, 1310 29.
31. Obstfeld, Maurice 2005 America's Deficit, the World's Problem Monetary and Economic Studies, 23, No. S-1.
32. Obstfeld, Maurice, and Kenneth Rogoff 2000 The Six Major Puzzles in International Macroeconomics: Is There a Common Cause NBER Macroeconomics Annual, 15, 411 2.
33. Obstfeld, Maurice, and Kenneth Rogoff 2002 Global Implications of Self-Oriented National Monetary Rules Quarterly Journal of Economics, 117, 503 36.
34. Rotemberg, Julio J., and Michael Woodford 1998 An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy In NBER Macroeconomic Annual 1997, edited by Ben Bernanke and Julio Rotemberg, pp. 297 346. Cambridge, MA : MIT Press.
35. Selaive, Jorge, and Vicente Tuesta 2003 Net Foreign Assets and Imperfect Pass-through: The Consumption Real Exchange Rate Anomaly FRB International Finance Discussion Paper No. 764.
36. Stockman, Alan C., and Linda Tesar 1995 Tastes and Technology in a Two-Country Model of the Business Cycle: Explaining International Comovements American Economic Review, 83, 473 86.
37. Sutherland, Alan 2001 A Simple Second-Order Solution Method for Dynamic General Equilibrium Models Unpublished manuscript, University of St. Andrews.
38. Tille, Cedric 2005 Financial Integration and the Wealth Effect of Exchange Rate Fluctuations Federal Reserve Bank of New York Staff Report 226.
39. Trefler, Daniel, and Huiweb Lai 1999 The Gains from Trade: Standard Errors with the CES Monopolistic Competition Model Unpublished manuscript, University of Toronto.
40. van Wincoop, Eric 1994 Welfare Gains from International Risksharing Journal of Monetary Economics, 34, 175 200.
41. van Wincoop, Eric 1999 How Big Are Potential Welfare Gains from International Risksharing Journal of International Economics, 47, 109 35.
42. Woodford, Michael 2003) Interest and Prices. Princeton, NJ : Princeton University Press.
43. Yun, Tack 1996 Nominal Price Rigidity, Money Supply Endogeneity, and Business Cycles Journal of Monetary Economics, 37, 345 70.