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International policy coordination and simple monetary policy rules /

This paper studies the optimal design of monetary policy in an optimizing two-country sticky price model. We suppose that the production sequence of final consumption goods stretches across both countries and is associated with vertical trade. Prices of final consumption goods are sticky in the cons...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Berger, Wolfram (Autor), Wagner, Helmut, 1951- (Autor)
Autor Corporativo: International Monetary Fund. Research Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, Research Dept., ©2006.
Colección:IMF working paper ; WP/06/164.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a Berger, Wolfram,  |e author. 
245 1 0 |a International policy coordination and simple monetary policy rules /  |c Wolfram Berger and Helmut Wagner. 
260 |a [Washington, D.C.] :  |b International Monetary Fund, Research Dept.,  |c ©2006. 
300 |a 1 online resource (26 pages) :  |b illustrations 
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490 1 |a IMF working paper,  |x 2227-8885 ;  |v WP/06/164 
504 |a Includes bibliographical references. 
588 0 |a Print version record. 
520 |a This paper studies the optimal design of monetary policy in an optimizing two-country sticky price model. We suppose that the production sequence of final consumption goods stretches across both countries and is associated with vertical trade. Prices of final consumption goods are sticky in the consumer's currency. Pursuing an inward-looking policy, as suggested in recent work, is not optimal in this set-up. We also ask which simple, i.e. non-optimal, targeting rule best supports the welfare maximizing policy. The results hinge critically on the degree of price flexibility and the relative importance of cost-push and productivity shocks. In many cases, a strict targeting of price indices like producer or consumer price indices is dominated by rules that allow for some fluctuations in prices such as nominal income or monetary targeting. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
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505 0 |a Contents -- I. INTRODUCTION -- II. THE MODEL -- III. WELFARE, OUTPUT AND CONSUMPTION -- IV. OPTIMAL MONETARY POLICY AND POLICY COORDINATION -- V. SIMPLE RULES AND WELFARE -- VI. CONCLUSIONS -- REFERENCES 
546 |a English. 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a Economic policy  |x Econometric models. 
650 0 |a Monetary policy  |x Econometric models. 
650 0 |a Prices  |x Econometric models. 
650 6 |a Prix  |x Modèles économétriques. 
650 6 |a Politique monétaire  |x Modèles économétriques. 
650 6 |a Politique économique  |x Modèles économétriques. 
650 7 |a Economic policy  |x Econometric models  |2 fast 
650 7 |a Monetary policy  |x Econometric models  |2 fast 
650 7 |a Prices  |x Econometric models  |2 fast 
700 1 |a Wagner, Helmut,  |d 1951-  |e author.  |1 https://id.oclc.org/worldcat/entity/E39PBJxWVGTmkJHMcCHJtFRVG3 
710 2 |a International Monetary Fund.  |b Research Department. 
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830 0 |a IMF working paper ;  |v WP/06/164. 
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