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Projects - Details  
  Monetary Policy, Welfare and the Structure of International Financial Markets

Professor Alan J Sutherland
University of St Andrews

Professor Alan Sutherland
School of Economics and Finance
University of St Andrews
St Andrews
KY16 9AL

Tel: 01334 462420
email: ajs10@st-and.ac.uk

Duration of Research
September 2005 - August 2006

The project will analyse the implications of international financial market structure for monetary and exchange rate policy. The research will pay particular attention to different forms of incomplete financial markets. The project will address three main questions: (i) How do financial market flows and asset prices respond to monetary policy and exogenous shocks when international financial markets are incomplete? (ii) What is optimal monetary policy when financial markets are incomplete and how does the form of the optimal monetary rule differ in different financial market structures? (iii) What are the implications of the choice of monetary policy regime for the endogenous determination of financial market structure?

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Remarks, comments and contributions are welcome at: t.byne@econ.bbk.ac.uk
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Last updated November 2005
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