منابع مشابه
Monetary Policy in a Multi-polar World
That monetary policy in an open economy is markedly different from that in a closed economy has long been recognized—but typically, discussions have focused on small economies, where the effects are mediated largely through the exchange rate. After all, with perfect capital markets, a small country takes the global real interest rate as given. An increase in the supply of its currency naturally...
متن کاملStudying Reuse of Out-dated Third-party Code in Open Source Projects
Using existing source code as third-party code to build new software systems becomes very popular in these days. However, many existing code is keeping on updating during their life circle. Different versions of code, even out-dated, is reused by other software and spreading all over the world. This paper presents an empirical study on the reuse of out-dated third-party source code of several f...
متن کاملMonetary Policy in an Uncertain World: Probability Models and the Design of Robust Monetary Rules∗
The past forty years or so has seen a remarkable transformation in macro-models used by central banks, policymakers and forecasting bodies. This papers describes this transformation from reduced-form behavioural equations estimated separately, through to contemporary micro-founded dynamic stochastic general equilibrium (DSGE) models estimated by systems methods. In particular by treating DSGE m...
متن کاملMonetary arrangements in a globalizing world: an introduction
This book is based on a conference held at Kalamazoo College Michigan. In 11–12 May 2001, on the lessons of the European Monetary Union (EMU) for the Americas. Much of the economic analysis of moving to EMU has been undertaken within the context of the Optimal Currency Area (OCA) paradigm, based on Mundell’s (1961) seminal contribution. In that view money is viewed as having developed from a pr...
متن کاملOptimal monetary policy in a Phillips-curve world
In this paper we study optimal monetary policy in a model that integrates the modern theory of unemployment with a liquidity model of monetary transmission. Two policy environments are considered: period by period optimization (time consistency) and full commitment (Ramsey allocation). When the economy is subject to productivity shocks, the optimal policy is pro-cyclical. We also characterize t...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Intereconomics
سال: 1971
ISSN: 0020-5346,1613-964X
DOI: 10.1007/bf02927075