International Macroeconomics With Imperfect Financial Markets

Matteo Maggiori

No 17197, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: A review of recent advances in open economy analysis under segmented international financial markets. A set of modeling tools that have been used to understand financial crises, the ensuing policy response (e.g., Quantitative Easing and FX intervention), deviations from arbitrage (CIP deviations), and more generally the impact of capital flows on exchange rates. This modeling approach has also shed a different light on classic topics such as the exchange rate disconnect, international risk sharing, UIP failures, and the carry trade.

Date: 2022-04
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Related works:
Working Paper: International Macroeconomics With Imperfect Financial Markets (2021)
Working Paper: International Macroeconomics With Imperfect Financial Markets (2021)
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