Export pricing and the cross-country correlation of stock prices

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dc.contributor Bank of Finland
dc.contributor.author Tervala, Juha
dc.date.accessioned 2014-09-22T07:58:07Z
dc.date.available 2014-09-22T07:58:07Z
dc.date.issued 2009
dc.identifier.isbn 978-952-462-544-9
dc.identifier.isbn 978-952-462-545-6
dc.identifier.issn 1456-6184
dc.identifier.uri https://helda.helsinki.fi/bof/handle/123456789/7506
dc.description.abstract This study analyses cross-country correlations of stock prices (values of firms) using the basic New Open Economy Macroeconomics model. We show that cross-country correlations of stock prices greatly depend on the currency of export pricing in the case of monetary shocks but not notably for temporary technology shocks. In the case of a money supply shock, the producer (local) currency pricing version of the model generates a negative (positive) cross-country correlation of stock prices.
dc.format.extent 31 s.
dc.language.iso eng
dc.relation.ispartofseries Bank of Finland Research Discussion Papers
dc.rights https://helda.helsinki.fi/bof/copyright
dc.subject vienti
dc.subject hinnoittelu
dc.subject avoin talous
dc.subject mallit
dc.subject osakkeet
dc.subject hinnat
dc.subject valuutat
dc.subject häiriöt
dc.subject yritykset
dc.subject makrotalous
dc.subject kansainvälinen
dc.subject teknologia
dc.subject SP
dc.subject RP
dc.title Export pricing and the cross-country correlation of stock prices
dc.type Sarjajulkaisu
dc.identifier.urn URN:NBN:fi:bof-20140807291
dc.series.name Bank of Finland Research Discussion Papers
dc.series.year 2009
dc.series.number 28/2009
dc.series.sortingnumber 0028
dc.date.publication 1.10.2009

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