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Saturday, May 16, 2020 | History

2 edition of International dimensions of optimal monetary policy found in the catalog.

International dimensions of optimal monetary policy

Giancarlo Corsetti

International dimensions of optimal monetary policy

by Giancarlo Corsetti

  • 317 Want to read
  • 12 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

    Subjects:
  • Monetary policy -- Econometric models.,
  • Exports -- Prices -- Econometric models.,
  • Foreign exchange rates -- Econometric models.

  • Edition Notes

    StatementGiancarlo Corsetti, Paolo Pesenti.
    GenreEconometric models.
    SeriesNBER working paper series -- no. 8230, Working paper series (National Bureau of Economic Research) -- working paper no. 8230.
    ContributionsPesenti, Paolo A., National Bureau of Economic Research.
    The Physical Object
    Pagination34, ix p. ;
    Number of Pages34
    ID Numbers
    Open LibraryOL22418387M

    "The ideas contained in Michael Woodford's book Interest and Prices have influenced the way central bank economists-to say nothing of academic economists-in every corner of the world think about the conduct of monetary policy. These ideas form the most significant original book-length contribution to monetary Cited by:   In his masterpiece of a new book, Gold: The Monetary Polaris, monetary thinker non-pareil Nathan Lewis explains in brilliant fashion the certain wonders of stable money values defined by Author: John Tamny.

    monetary policy in practice). However a central issue has remained neglected, namely the one of how monetary policy should be optimally conducted, both in the short and in the long run. We will focus on two dimensions to the optimal monetary policy .   It is a pleasure to speak at this joint ECB-IMF conference on the international dimension of monetary policy. As you know, this is not a new topic: the literature has built up throughout the last .

    Purchase Handbook of Monetary Economics, Volume 3B - 1st Edition. Print Book & E-Book. ISBN , Books shelved as monetary-policy: I Do What I Do by Raghuram G. Rajan, The Ascent of Money: A Financial History of the World by Niall Ferguson, Exorbitan.


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International dimensions of optimal monetary policy by Giancarlo Corsetti Download PDF EPUB FB2

Monetary Policy - tional transmission mechanism and the design of optimal monetary policy in open economy.6 The paper is organized as follows. Section 2 introduces the model.

Sec-tion 3 summarizes the mechanism of international transmission of real and monetary shocks implied by the model. Section 4 analyzes optimal policy. NBER Program(s):International Finance and Macroeconomics This paper provides a baseline general-equilibrium model of optimal monetary policy among interdependent economies, with monopolistic Cited by: 3.

International Transmission and Monetary Policy Cooperation: Günter Coenen, Giovanni Lombardo, Frank Smets, Roland Straub (p.

- ) (bibliographic info) Comment: Christopher A. Sims (p. - ) (bibliographic Cited by: International dimensions of optimal monetary policy☆. Abstract. This paper provides a baseline general equilibrium model of optimal monetary policy among interdependent economies with Cited by: When ζ = 1 optimal monetary policy implies domestic price stability but does not close the output gap.

This result is similar to the case η = 1 in the model of Section 3. Only when φ * = ζ = 1 do the three expressions coincide, and optimal monetary policy has no international by: More about this item Book Chapters The following chapters of this book are listed in IDEAS.

Jordi Gali & Mark J. Gertler, "Introduction to "International Dimensions of Monetary Policy"," NBER Chapters, in: International Dimensions of Monetary Policy. International dimensions of optimal monetary policy. optimal rules trade off a larger domestic output gap against lower import prices.

Monetary rules in a world Nash equilibrium lead to less Author: Giancarlo Corsetti and Paolo Pesenti. In this paper, we examine optimal monetary policy in a medium-sized model of the euro area, namely the Area Wide Model (AWM), Fagan et al.

The choice of model is interesting for a number of reasons. First, it contributes to the debate about optimal monetary policy. Research in the international dimensions of optimal monetary policy has long been inspired by a set of fascinating questions, shaping the policy de-bate in at least two eras of progressive cross-border.

Therefore the only logical alternative of politically induced changes in the money supply, namely, laissez-faire, is the optimal monetary policy. It might be objected from the very outset that.

This paper provides a baseline general-equilibrium model of optimal monetary policy among interdependent economies with monopolistic firms that set prices one period in advance. Strict adherence to inward-looking policy objectives such as the stabilization of domestic output cannot be optimal.

International dimensions of optimal monetary policy. Cambridge, MA.: National Bureau of Economic Research, © (OCoLC) Material Type: Internet resource: Document Type:. Corsetti, Giancarlo & Pesenti, Paolo, "International Dimensions of Optimal Monetary Policy," CEPR Discussion PapersC.E.P.R.

Discussion Papers. Giancarlo Corsetti & Paolo Pesenti, "International Dimensions of Optimal Monetary Policy. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy.

In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics. The International Dimension of Optimal Monetary Policy. This paper provides a baseline general-equilibrium model of optimal monetary policy among interdependent economies, with monopolistic.

International dimensions of optimal monetary policy () Cached. Download Linkstitle = {International dimensions of optimal monetary policy}, institution = {}, year = {}} Share. OpenURL. optimal monetary policy international dimension exchange rate pass-through optimal interest rate policy.

BibTeX @MISC{Corsetti01internationaldimensions, author = {Giancarlo Corsetti and Paolo Pesenti}, title = {International Dimensions of Optimal Monetary Policy}, year. International dimensions of optimal monetary policy.

Giancarlo Corsetti and Paolo Pesenti. Journal of Monetary Economics,vol. 52, issue 2, Date: References: View references in Cited by: monetary policy in open economies is conducted in a cooperative or noncooperative manner. Table 1 offers a taxonomy of previous studies on optimal monetary policy in open economies.

Regarded as the beginning of the NOEM framework for monetary pol-icy. Download PDF: Sorry, we are unable to provide the full text but you may find it at the following location(s): (external link)Author: Giancarlo Corsetti and Paolo Pesenti.International Dimensions of Monetary Policy Author: Alejandro Werner Subject: Presentation of Eight BIS CCA Research Conference on "Low interest rates, monetary policy and international .''Optimal Monetary Policy with Durable Consumption Goods'', Journal of Monetary Economics, vol.

53 no. 7, Octoberpg. (with Andrew Levin). “SIGMA: A New Open Economy Model for Policy Analysis,” International .