International Macro-Finance
22 Pages Posted: 31 Jan 2011
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International Macro-Finance
Date Written: January 2011
Abstract
International macro-finance is a new area of open economy macroeconomics that brings portfolio choice and asset pricing considerations into models of international macroeconomics. The importance of these considerations -- typically relegated to Finance and largely overlooked in traditional macroeconomics -- for the international macroeconomy have been underscored by a series of recent financial crises and by unprecedented global imbalances. In this paper, we survey recent developments in this area, primarily on the theoretical front. We also suggest several promising directions for future research.
Keywords: asset pricing, equity prices, international macroeconomics, international portfolios
JEL Classification: F31, F36, G12, G15
Suggested Citation: Suggested Citation
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