Reference

Dimitrios Tsomocos (Saïd Business School, St. Edmund Hall, Oxford), “International Monetary Equilibrium with Default”, Paul Woolley Research Initiative Seminar, IDEI, May 11, 2009, 12:30–14:00, room MF 323.

Abstract

This paper proposes a finite horizon general equilibrium model of international finance with fiat money, heterogeneous agents, multiple goods, multiple assets, multiple countries each with their own money supply, default and regulation. Nominal and real determinacy is obtained and money is non-neutral. IMED provides a coherent framework consistent with standard general equilibrium theory to study the effects of monetary, fiscal and regulatory policy in an international context in view of the current financial crisis.

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