000 02671nam  2200421zi 4500
0019.933705
003CaOODSP
00520240209103509
006m     o  d f      
007cr mn|||||||||
008240209t20242024onca    ob   f000 0 eng d
040 |aCaOODSP|beng|erda|cCaOODSP
0410 |aeng|beng|bfre
0861 |aFB3-5/2024-3E-PDF
1001 |aWu, Jing Cynthia, |eauthor.
24514|aThe role of international financial integration in monetary policy transmission / |cby Jing Cynthia Wu, Yinxi Xie and Ji Zhang.
264 1|a[Ottawa] : |bBank of Canada = Banque du Canada, |c2024.
264 4|c©2024
300 |a1 online resource (ii, 60 pages) : |bcolour illustrations.
336 |atext|btxt|2rdacontent
337 |acomputer|bc|2rdamedia
338 |aonline resource|bcr|2rdacarrier
4901 |aStaff working paper = Document de travail du personnel, |y1701-9397 ; |v2024-3
500 |aISSN assigned to different series.
500 |a"Category/Catégorie: Non-Sensitive/Non-Délicat."
500 |a"Last updated: February 6, 2024."
504 |aIncludes bibliographical references (pages 40-44).
5203 |a"Motivated by empirical evidence, we propose an open-economy New Keynesian model with financial integration that allows financial intermediaries to hold foreign long-term bonds. We find financial integration features an amplification for a domestic monetary policy shock and a negative spillover for a foreign shock. These results hold for conventional and unconventional monetary policies. Among various aspects of financial integration, the bond duration plays a major role, and our results cannot be replicated by a standard model of perfect risk sharing between households. Finally, we observe an important interaction between financial integration and trade openness and demonstrate trade alone does not have an economically meaningful impact on monetary policy transmission"--Abstract, page ii.
546 |aIncludes abstracts in English and French.
650 0|aInternational finance|xEconometric models.
650 0|aMonetary policy|xEconometric models.
650 0|aTransmission mechanism (Monetary policy)|xEconometric models.
650 6|aFinances internationales|xModèles économétriques.
650 6|aPolitique monétaire|xModèles économétriques.
650 6|aMécanismes de transmission (Politique monétaire)|xModèles économétriques.
7102 |aBank of Canada, |eissuing body.
830#0|aStaff working paper (Bank of Canada)|v2024-3.|w(CaOODSP)9.806221
85640|qPDF|s988 KB|uhttps://publications.gc.ca/collections/collection_2024/banque-bank-canada/FB3-5-2024-3-eng.pdf