The open economy consequences of U.S. monetary policy
نویسندگان
چکیده
منابع مشابه
Monetary Policy Trade-o¤s in the Open Economy
Recent work on monetary policy has focused on the trade-o¤ between output volatility and in‡ation volatility. This literature is based largely on models of closed economies. Three conclusions about optimal policy characterize these models. First, the central bank faces an in‡ation-output gap volatility trade-o¤ only in the presence of cost-push shocks. Second, aggregate demand shocks should be ...
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ژورنال
عنوان ژورنال: Journal of International Money and Finance
سال: 2011
ISSN: 0261-5606
DOI: 10.1016/j.jimonfin.2010.11.001