Financial markets and monetary policy /
Jeffrey A. Frankel.
- Cambridge : The MIT Press, 1995.
- xiii, 321 páginas : tablas, gráficas ; 24 cm.
Incluye referencias bibliográficas (páginas 297-316) e índice.
I. Do investors diversify optimally? Introduction to part I: 1. Portfolio crowding-out, empirically estimated ; 2. A comment on debt management ; 3. Portfolio shares as "Beta Breakers" ; 4. Do asset-demand functions optimize over the mean and variance of real returns? A six-currency test ; 5. The constrained asset share estimation (CASE) method: testing mean-variance efficiency of the U.S. stock market -- II. Two monetary indicators: commodity prices and the interest rate term structure: introduction to part II: 6. expectations and commodity price dynamics: the overshooting model ; 7. Commodity prices, money surprises, and fed credibility ; 8. A Technique for extracting a measure of expected inflation from the interest rate term structure ; 9. An indicator of future inflation extracted from the steepness of the interest rate yield curve along its entire length ; 10. The power of the yield curve to predict interest rates (or lack thereof) -- III. Uncertainty, policy coordination, and nominal GDT targeting introduction to part III: 11. Ambiguous policy multipliers in theory and in empirical models ; 12. The implications of conflicting models for coordination between monetary and fiscal policymakers ; 13. International macroeconomic policy coordination when policymakers do not agree on the true model ; 14. International nominal targeting (INT): a proposal for overcoming obstacles to monetary policy coordination ; 15. The stabilizing properties of a nominal GDP rule for monetary policy.