01162oam 2200361 a 450 991069345350332120090325155910.0(CKB)4920000000513734(OCoLC)317075424(EXLCZ)99492000000051373420090325d2009 ua 0engurbn|||||||||txtrdacontentcrdamediacrrdacarrierUnited States Capitol Police, deployment of personnel[electronic resource]Washington, DC :U.S. Govt. Accountability Office,[2009]9 pages digital, PDF fileTitle from title screen (viewed on Mar. 25, 2009)."January 30, 2009.""B-317252."Emergency managementGovernment policyUnited StatesEvaluationHurricanesTexasEmergency managementGovernment policyEvaluation.HurricanesGPOGPOGPOBOOK9910693453503321United States Capitol Police, deployment of personnel3146836UNINA06403oam 22017294 450 991097378690332120250426110521.097866128423449781462304325146230432X97814519882841451988281978145187159314518715979781282842342128284234X(CKB)3170000000055180(SSID)ssj0000939899(PQKBManifestationID)11479987(PQKBTitleCode)TC0000939899(PQKBWorkID)10937983(PQKB)10745519(OCoLC)466407342(IMF)WPIEE2009012(MiAaPQ)EBC1605877(IMF)WPIEA2009012WPIEA2009012(EXLCZ)99317000000005518020020129d2009 uf 0engurcn|||||||||txtccrThe International Diversification Puzzle when Goods Prices Are Sticky : It's Really About Exchange-Rate Hedging, not Equity Portfolios /Akito Matsumoto, Charles Engel1st ed.Washington, D.C. :International Monetary Fund,2009.47 pIMF Working PapersBibliographic Level Mode of Issuance: Monograph9781451915952 1451915950 Includes bibliographical references.Intro -- Contents -- I. Introduction -- II. A General Result in a Static Framework -- III. A Simple Equilibrium Static Model -- A. Households -- B. Firms -- C. Solution of the Static Model -- IV. Dynamic Model -- A. Household Problem -- B. Firms -- C. Solution of the Dynamic Model -- D. Calibrated Portfolios -- V. Conclusion -- Table -- 1. Optimal Portfolio Shares of Foreign Equities -- Appendix -- References.This paper develops a two-country monetary DSGE model in which households choose a portfolio of home and foreign equities, and a forward position in foreign exchange. Some nominal goods prices are sticky. Trade in these assets achieves the same allocations as trade in a complete set of nominal state-contingent claims in our linearized model. When there is a high degree of price stickiness, we show that not much equity diversification is required to replicate the complete-markets equilibrium when agents are able to hedge foreign exchange risk sufficiently. Moreover, temporarily sticky nominal goods prices can have large effects on equity portfolios even when dividend processes are very persistent.IMF Working Papers; Working Paper ;No. 2009/012Hedging (Finance)Foreign exchange ratesBanks and BankingimfCapital and Ownership StructureimfConsumptionimfCurrenciesimfDeflationimfEconomicsimfFinancial institutionsimfFinancial InstrumentsimfFinancial regulation and supervisionimfFinancial Risk and Risk ManagementimfFinancial risk managementimfFinancial services law & regulationimfFinancing PolicyimfForeign ExchangeimfGoodwillimfGovernment and the Monetary SystemimfHedgingimfInflationimfInstitutional InvestorsimfInternational Finance: GeneralimfInvestment & securitiesimfInvestment DecisionsimfInvestments: StocksimfMacroeconomicsimfMacroeconomics: ConsumptionimfMonetary economicsimfMonetary SystemsimfMoney and Monetary PolicyimfMoneyimfNational accountsimfNon-bank Financial InstitutionsimfOpen Economy MacroeconomicsimfPayment SystemsimfPension FundsimfPortfolio ChoiceimfPrice LevelimfPricesimfRegimesimfSavingimfStandardsimfSticky pricesimfStocksimfValue of FirmsimfWealthimfUnited StatesimfHedging (Finance)Foreign exchange rates.Banks and BankingCapital and Ownership StructureConsumptionCurrenciesDeflationEconomicsFinancial institutionsFinancial InstrumentsFinancial regulation and supervisionFinancial Risk and Risk ManagementFinancial risk managementFinancial services law & regulationFinancing PolicyForeign ExchangeGoodwillGovernment and the Monetary SystemHedgingInflationInstitutional InvestorsInternational Finance: GeneralInvestment & securitiesInvestment DecisionsInvestments: StocksMacroeconomicsMacroeconomics: ConsumptionMonetary economicsMonetary SystemsMoney and Monetary PolicyMoneyNational accountsNon-bank Financial InstitutionsOpen Economy MacroeconomicsPayment SystemsPension FundsPortfolio ChoicePrice LevelPricesRegimesSavingStandardsSticky pricesStocksValue of FirmsWealth332.152Matsumoto Akito1815745Engel Charles125885DcWaIMFBOOK9910973786903321The International Diversification Puzzle when Goods Prices Are Sticky4371917UNINA