Do the ECB and the Fed really need to cooperate? Optimal monetary policy in a two-country world

Article Abstract:

The welfare properties and the implication for macro economic stability of different international monetary policy arrangements, using two-country model with monopolistic completion and price stickiness, are studied. The analysis concludes that the cooperation between the ECB and the Fed will produce little welfare again.

Europe, Management dynamics, Management, Comparative analysis, Monetary policy, Company business management, European Union. European Central Bank

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Foreign exchange intervention: how to signal policy objectives and stabilize the economy

Article Abstract:

The ways in which foreign exchange intervention helps to stabilize the national economy is studied. This results in larger stability gains, when intervention is under the jurisdiction of governmental agencies.

Foreign exchange market

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A no-arbitrage vector autoregression of term structure dynamics with macroeconomic and latent variables

Article Abstract:

The joint dynamics of bond yields and macroeconomic variables in a Vector Autoregression without arbitrage is described. Its effect on bond prices and the yield curve is examined with latent variables.

Stock price indexes, Macroeconomics, Junk bonds

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