Currency Mismatch, Balance-sheet effect and Monetary Policy

Research English OPEN
Nakamura, Chikafumi;
  • Publisher: Institute of Comparative Economic Studies, Hosei University
  • Journal: Journal of International Economic Studies = Journal of International Economic Studies, volume 25, pages 103-128 (issn: 0911-1247)
  • Publisher copyright policies & self-archiving
  • Subject: Currency mismatch | Balance-sheet effect | Small open economy | DSGE

This paper analyzes the impact of the currency mismatch between assets and liabilities on monetary policy. The currency mismatch causes macroeconomic instability through balance-sheet effects. To analyze the problem, we apply a small open economy dynamic stochastic g... View more
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