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Optimal Monetary Policy in a Currency Union: Implications of a Country-specific Cost Channel
There is growing empirical evidence that the strength of the cost channel of monetary policy differs across countries. Using a New Keynesian model of a two-country monetary union, we show how the introduction of a cost channel (differential) alters the optimal monetary responses to union-wide and n...
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| Gepubliceerd in: | MAGKS - Joint Discussion Paper Series in Economics (Band 44-2014) |
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| Hoofdauteurs: | , |
| Formaat: | Artikel |
| Taal: | Engels |
| Gepubliceerd in: |
Philipps-Universität Marburg
2014
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| Onderwerpen: | |
| Online toegang: | PDF Full text |
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MAGKS - Joint Discussion Paper Series in Economics