Monetary Policy for an Open Economy: An Alternative Framework with Optimizing Agents and Sticky Prices

Bennett T. McCallum · EDWARD B. NELSON

290 citations0/0 files storedOxford Review of Economic Policy

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Monetary Policy and Economic Impact Global Financial Crisis and Policies Economic theories and models

Abstract

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References

1982Sticky Prices in the United States 1996Foundations of International Macroeconomics 1997Issues in the Design of Monetary Policy Rules

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2003THE REAL-INTEREST-RATE GAP AS AN INFLATION INDICATOR 2002Monetary policy rules in the open economy: effects on welfare and business cycles 2010Can structural small open-economy models account for the influence of foreign disturbances?2006How well can the New Open Economy Macroeconomics explain the exchange rate and current account?2005Simple monetary policy rules and exchange rate uncertainty 2001Price Stability with Imperfect Financial Integration 2002Explaining the Exchange Rate Pass-Through in Different Prices 2008Optimal Monetary Policy in a Small Open Economy with Home Bias

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