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Open-Economy Inflation Targeting

by Lars E. O. Svensson , 1998
"... The paper extends previous analysis of closed-economy inflation targeting to a small open economy with forward-looking aggregate supply and demand with some microfoundations, and with stylized realistic lags in the different transmission channels for monetary policy. The paper compares targeting of ..."
Abstract - Cited by 370 (7 self) - Add to MetaCart
The paper extends previous analysis of closed-economy inflation targeting to a small open economy with forward-looking aggregate supply and demand with some microfoundations, and with stylized realistic lags in the different transmission channels for monetary policy. The paper compares targeting

Specialization in Open Economies by

by A Service Of, Stolpe Michael, Michael Stolpe, Michael Stolpe , 1994
"... in open economies ..."
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in open economies

Policy Rules for Open Economies

by Laurence Ball, Thomas Sargent, John Taylor - Monetary Policy Rules , 1999
"... January 1998. I am grateful for research assistance from Qiming Chen, ..."
Abstract - Cited by 264 (1 self) - Add to MetaCart
January 1998. I am grateful for research assistance from Qiming Chen,

The New Open Economy Macroeconomics: A Survey”,

by Philip R Lane - Journal of International Economics , 2001
"... Abstract Since the 1995 publication of Obsteld and Rogoff's Redux model, there has been an outpouring of research on open-economy dynamic general equilibrium models that incorporate imperfect competition and nominal rigidities. This paper offers an interim survey of this recent literature. ..."
Abstract - Cited by 311 (4 self) - Add to MetaCart
Abstract Since the 1995 publication of Obsteld and Rogoff's Redux model, there has been an outpouring of research on open-economy dynamic general equilibrium models that incorporate imperfect competition and nominal rigidities. This paper offers an interim survey of this recent literature.

Monetary Policy and Exchange Rate Volatility in a Small Open Economy

by Jordi Galí, Tommaso Monacelli , 2003
"... We lay out a small open economy version of the Calvo sticky price model, and show how the equilibrium dynamics can be reduced to a tractable canonical system in domestic inflation and the output gap. We employ this framework to analyze the macroeconomic implications of three alternative rule-based p ..."
Abstract - Cited by 349 (8 self) - Add to MetaCart
We lay out a small open economy version of the Calvo sticky price model, and show how the equilibrium dynamics can be reduced to a tractable canonical system in domestic inflation and the output gap. We employ this framework to analyze the macroeconomic implications of three alternative rule

in the Open Economy

by Jeffrey Frankel, Christopher Pissarides
"... open versus the closed economy? Is “potential GDP ” a function of global developments, or only of domestic resources available and domestic pro-ductivity? Perhaps most important, how—if at all—does openness influ-ence the optimalmonetary policy rule? Is a Taylor rule the rightmonetary policy for an ..."
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open versus the closed economy? Is “potential GDP ” a function of global developments, or only of domestic resources available and domestic pro-ductivity? Perhaps most important, how—if at all—does openness influ-ence the optimalmonetary policy rule? Is a Taylor rule the rightmonetary policy

Open Economy ∗

by Egil Matsen, Tommy Sveen, Ragnar Torvik, Egil Matsen, Tommy Sveen, Ragnar Torvik
"... This paper extends the savers-spenders theory of Mankiw (2000) to analyze fiscal policy in a small open economy with endogenous labor supply. It is first shown that tax cuts have a shortrun contractionary effect on domestic production, and increased public spending has a short-run expansionary effec ..."
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This paper extends the savers-spenders theory of Mankiw (2000) to analyze fiscal policy in a small open economy with endogenous labor supply. It is first shown that tax cuts have a shortrun contractionary effect on domestic production, and increased public spending has a short-run expansionary

Price Stability in Open Economies

by Gianluca Benigno, Pierpaolo Benigno - Review of Economic Studies , 2003
"... This paper studies the conditions under which price stability is the optimal policy in a two-country open-economy model with imperfect competition and price stickiness. Special conditions on the levels of country-specific distortionary taxation and the intratemporal and intertemporal elasticities of ..."
Abstract - Cited by 91 (0 self) - Add to MetaCart
This paper studies the conditions under which price stability is the optimal policy in a two-country open-economy model with imperfect competition and price stickiness. Special conditions on the levels of country-specific distortionary taxation and the intratemporal and intertemporal elasticities

Open Economies

by John B. Taylor, Laurence Ball , 1999
"... What policy rules should central banks follow? A growing number of econo-mists and policymakers advocate targets for the level of inflation. Many also argue that inflation targeting should be implemented through a “Taylor rule” in which interest rates are adjusted in response to output and inflation ..."
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What policy rules should central banks follow? A growing number of econo-mists and policymakers advocate targets for the level of inflation. Many also argue that inflation targeting should be implemented through a “Taylor rule” in which interest rates are adjusted in response to output and inflation. These

FOR OPEN ECONOMIES

by Joseph Plasmans, Jorge Fornero, A Microfounded, Sectoral Model, Joseph Plasmans, Jorge Fornero , 2006
"... An electronic version of the paper may be downloaded • from the SSRN website: www.SSRN.com • from the RePEc website: www.RePEc.org • from the CESifo website: Twww.CESifo-group.deT ..."
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An electronic version of the paper may be downloaded • from the SSRN website: www.SSRN.com • from the RePEc website: www.RePEc.org • from the CESifo website: Twww.CESifo-group.deT
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