Optimal monetary policy for a small open economy

Detalhes bibliográficos
Autor(a) principal: Divino, Jose Angelo
Data de Publicação: 2009
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional da UCB
Texto Completo: http://hdl.handle.net/123456789/218
https://repositorio.ucb.br:9443/jspui/handle/123456789/7430
Resumo: This paper focuses on the design of monetary policy rules for a small open economy. The model features optimizing behavior, general equilibrium and price stickiness. The real exchange rate is shown to affect the firm's real marginal cost, aggregate supply and aggregate demand. The welfare objective depends on the openness of the economy, and the optimal policy rule differs from that which obtains in a closed economy. The inflation versus output gap stabilization trade-off is caused by the real exchange rate. The implied optimal monetary policy regime is domestic inflation target coupled with controlled floating of the real exchange rate.
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spelling Divino, Jose Angelo2016-10-10T03:51:27Z2016-10-10T03:51:27Z2009DIVINO, Jose Angelo. Optimal monetary policy for a small open economy, Economic Modelling, v. 26, n. 2, p. 352-358, 2009.http://hdl.handle.net/123456789/218https://repositorio.ucb.br:9443/jspui/handle/123456789/7430This paper focuses on the design of monetary policy rules for a small open economy. The model features optimizing behavior, general equilibrium and price stickiness. The real exchange rate is shown to affect the firm's real marginal cost, aggregate supply and aggregate demand. The welfare objective depends on the openness of the economy, and the optimal policy rule differs from that which obtains in a closed economy. The inflation versus output gap stabilization trade-off is caused by the real exchange rate. The implied optimal monetary policy regime is domestic inflation target coupled with controlled floating of the real exchange rate.Made available in DSpace on 2016-10-10T03:51:27Z (GMT). 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dc.title.pt_BR.fl_str_mv Optimal monetary policy for a small open economy
title Optimal monetary policy for a small open economy
spellingShingle Optimal monetary policy for a small open economy
Divino, Jose Angelo
Trade-off
Stabilization
title_short Optimal monetary policy for a small open economy
title_full Optimal monetary policy for a small open economy
title_fullStr Optimal monetary policy for a small open economy
title_full_unstemmed Optimal monetary policy for a small open economy
title_sort Optimal monetary policy for a small open economy
author Divino, Jose Angelo
author_facet Divino, Jose Angelo
author_role author
dc.contributor.author.fl_str_mv Divino, Jose Angelo
dc.subject.por.fl_str_mv Trade-off
Stabilization
topic Trade-off
Stabilization
dc.description.abstract.por.fl_txt_mv This paper focuses on the design of monetary policy rules for a small open economy. The model features optimizing behavior, general equilibrium and price stickiness. The real exchange rate is shown to affect the firm's real marginal cost, aggregate supply and aggregate demand. The welfare objective depends on the openness of the economy, and the optimal policy rule differs from that which obtains in a closed economy. The inflation versus output gap stabilization trade-off is caused by the real exchange rate. The implied optimal monetary policy regime is domestic inflation target coupled with controlled floating of the real exchange rate.
dc.description.version.pt_BR.fl_txt_mv Sim
dc.description.status.pt_BR.fl_txt_mv Publicado
description This paper focuses on the design of monetary policy rules for a small open economy. The model features optimizing behavior, general equilibrium and price stickiness. The real exchange rate is shown to affect the firm's real marginal cost, aggregate supply and aggregate demand. The welfare objective depends on the openness of the economy, and the optimal policy rule differs from that which obtains in a closed economy. The inflation versus output gap stabilization trade-off is caused by the real exchange rate. The implied optimal monetary policy regime is domestic inflation target coupled with controlled floating of the real exchange rate.
publishDate 2009
dc.date.issued.fl_str_mv 2009
dc.date.accessioned.fl_str_mv 2016-10-10T03:51:27Z
dc.date.available.fl_str_mv 2016-10-10T03:51:27Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
status_str publishedVersion
format article
dc.identifier.citation.fl_str_mv DIVINO, Jose Angelo. Optimal monetary policy for a small open economy, Economic Modelling, v. 26, n. 2, p. 352-358, 2009.
dc.identifier.uri.fl_str_mv http://hdl.handle.net/123456789/218
https://repositorio.ucb.br:9443/jspui/handle/123456789/7430
identifier_str_mv DIVINO, Jose Angelo. Optimal monetary policy for a small open economy, Economic Modelling, v. 26, n. 2, p. 352-358, 2009.
url http://hdl.handle.net/123456789/218
https://repositorio.ucb.br:9443/jspui/handle/123456789/7430
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv Restrito UCB
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rights_invalid_str_mv Restrito UCB
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