Monetary Policy in a Currency Union with Heterogeneous Limited Asset Markets Participation.
This paper examines monetary policy in a currency union whose member countries exhibit heterogeneous rates of limited asset markets participation (LAMP). As a result risk sharing among member countries is imperfect and the monetary transmission mechanism can differ across countries. In the limit t...
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| Format: | Working paper |
| Language: | English |
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Department of Economics (University of Oxford)
2009
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