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4 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

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  • 35 Currently reading

Published by Federal Reserve Bank of New York in [New York, N.Y.] .
Written in English

    Subjects:
  • Monetary policy -- Econometric models.,
  • Exports -- Prices -- Econometric models.,
  • Foreign exchange rates -- Econometric models.,
  • Economics, economic history and consumer affairs

  • Edition Notes

    StatementGiancarlo Corsetti and Paolo Pesenti.
    GenreEconometric models.
    SeriesStaff reports ;, no. 124, Staff reports (Federal Reserve Bank of New York : Online) ;, no. 124.
    ContributionsPesenti, Paolo A., Federal Reserve Bank of New York.
    Classifications
    LC ClassificationsHB1
    The Physical Object
    FormatElectronic resource
    ID Numbers
    Open LibraryOL3476981M
    LC Control Number2005616554

    Since , central banks of industrialized countries have counteracted financial instability, recession, and deflationary risks with unprecedented monetary policy operations. While generally regarded as successful, these measures also led to an exceptional increase in the size . The item The information content of the interest rate and optimal monetary policy, by Matthew B. Canzoneri, Dale W. Henderson, and Kenneth S. Rogoff represents a specific, individual, material .


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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 International dimensions of optimal monetary policy book 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 International dimensions of optimal monetary policy book 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 International dimensions of optimal monetary policy book Economic Research, © (OCoLC) Material Type: Internet resource: Document Type:.

Corsetti, Giancarlo & Pesenti, Paolo, "International Dimensions of International dimensions of optimal monetary policy book 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. BIS Working Papers No The international dimensions of macroprudential policies by Pierre-Richard Agénor, Enisse Kharroubi, Leonardo policy decisions.

Optimal macroprudential policies must address both short run and long run state of a airs can be related to the idea of monetary policy Cited by: 1.

“Inflation Targeting During Asset and Commodity Price Booms”,Oxford Review Economic Policy, 26(1) “Monetary Rules in Emerging Economies with Financial Market Imperfections”,in International Dimensions of Monetary Policy. "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. ISBNBooks 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. possibility of international policy coordination, and so on. A comprehensive analysis of those different modelling dimensions and how they may affect the design of monetary policy would require a book File Size: 2MB.

Monetary policy consists of the actions of a central bank, currency board or other regulatory committee that determine the size and rate of growth of the money supply, which in turn. No part of this book may be reproduced in any form by any electronic or mechanical means (including photocopying, recording, or information storage and retrieval) without permission in writing from the.

Barcelona. [email protected] Phone: (+34) 93 Research interests: Macroeconomic Theory and Monetary Economics. Currículum Vítae. Gains from Wage Flexibility and the Zero Lower Bound by R.

Billi, Jordi Gali. Revised February Monetary Policy. A chapter in Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework, View citations (13) Introduction to "International Dimensions of Monetary Policy" A chapter in International Dimensions of Monetary Policy.

Monetary policy has several important aims including eliminating unemployment, stabilizing prices, economic growth and equilibrium in the balance of payments. Monetary policy is planned to fulfill all. Optimal Monetary Policy Inertia Michael Woodford Princeton University June I would like to thank Alan Blinder, Gregory Chow, Ray Fair, Mark Gertler, Marvin Goodfriend, Bob Hall, Pat Kehoe.

but widely used, optimizing model of the monetary transmission mechanism, which allows one to reach clear conclusions about economic welfare. Of course, it will surprise no one that such a simple rule is unlikely to correspond to fully optimal policy in the context of a particular economic model.

However, 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 /5(2). The International Pdf Fund (IMF) is an international organization of Member Countries.

It was established to promote international monetary cooperation, exchange stability, and orderly Format: Paperback."Monetary Policy and Welfare in a Small Open Economy": Journal of International Economics, Vol, No.1, February Earlier version available as: CEP Discussion Papers no, May This paper analyzes optimal monetary policy .Get this from a library!

Optimal monetary policy and the ebook of local-currency price stability: Giancarlo Corsetti, Luca Dedola, Sylvain Leduc. [Giancarlo Corsetti; Luca Dedola; Sylvain Leduc; National Bureau of Economic Research.] -- We analyze the policy .