메뉴 건너뛰기




Volumn 41, Issue 7, 2009, Pages 1301-1330

Monetary policy under alternative asset market structures: The case of a small open economy

Author keywords

Asset markets; Optimal monetary policy; Small open economy; Welfare

Indexed keywords


EID: 70349220840     PISSN: 00222879     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1538-4616.2009.00257.x     Document Type: Article
Times cited : (58)

References (41)
  • 1
    • 34248650723 scopus 로고    scopus 로고
    • Bayesian estimation of an open economy DSGE model with incomplete pass-through
    • Adolfson, Malin, Stefan Laséen, Jesper Lindé, and Mattias Villani 2007 Bayesian Estimation of an Open Economy DSGE Model with Incomplete Pass-Through Journal of International Economics, 72, 481 511.
    • (2007) Journal of International Economics , vol.72 , pp. 481-511
    • Adolfson, M.1    Laséen, S.2    Lindé, J.3    Villani, M.4
  • 2
    • 0041723583 scopus 로고    scopus 로고
    • Price stability in open economies
    • Benigno, Gianluca, and Pierpaolo Benigno 2003 Price Stability in Open Economies Review of Economic Studies, 70, 743 764.
    • (2003) Review of Economic Studies , vol.70 , pp. 743-764
    • Benigno, G.1    Benigno, P.2
  • 3
    • 33645935703 scopus 로고    scopus 로고
    • Designing targeting rules for international monetary policy coordination
    • Benigno, Gianluca, and Pierpaolo Benigno 2006 Designing Targeting Rules for International Monetary Policy Coordination Journal of Monetary Economics, 53, 473 506.
    • (2006) Journal of Monetary Economics , vol.53 , pp. 473-506
    • Benigno, G.1    Benigno, P.2
  • 4
    • 58849149415 scopus 로고    scopus 로고
    • Price stability with imperfect financial integration
    • Benigno, Pierpaolo 2009 Price Stability with Imperfect Financial Integration Journal of Money, Credit and Banking, 41, 121 149.
    • (2009) Journal of Money, Credit and Banking , vol.41 , pp. 121-149
    • Benigno, P.1
  • 5
    • 33745900694 scopus 로고    scopus 로고
    • Inflation stabilization and welfare: The case of large distortions
    • Benigno, Pierpaolo, and Michael Woodford 2005 Inflation Stabilization and Welfare: The Case of Large Distortions Journal of the European Economic Association, 3, 1185 1236.
    • (2005) Journal of the European Economic Association , vol.3 , pp. 1185-1236
    • Benigno, P.1    Woodford, M.2
  • 6
    • 42649090124 scopus 로고    scopus 로고
    • Monetary policy rules for a small open economy
    • Berger, Wolfram 2008 Monetary Policy Rules for a Small Open Economy Economic Notes, 37, 1 30.
    • (2008) Economic Notes , vol.37 , pp. 1-30
    • Berger, W.1
  • 7
    • 70349217173 scopus 로고    scopus 로고
    • Board of Governors of the Federal Reserve System. International Finance Discussion Paper No. 934.
    • Bodenstein, Martin 2008 Trade Elasticity of Substitution and Equilibrium Dynamics Board of Governors of the Federal Reserve System, International Finance Discussion Paper No. 934.
    • (2008) Trade Elasticity of Substitution and Equilibrium Dynamics
    • Bodenstein, M.1
  • 8
  • 9
    • 48749143178 scopus 로고
    • Staggered prices in a utility-maximizing framework
    • Calvo, Guilhermo 1983 Staggered Prices in a Utility-Maximizing Framework Journal of Monetary Economics, 12, 383 398.
    • (1983) Journal of Monetary Economics , vol.12 , pp. 383-398
    • Calvo, G.1
  • 11
    • 0036655918 scopus 로고    scopus 로고
    • Can sticky price models generate volatile and persistent real exchange rates
    • Chari, Varadarajan V., Patric J. Kehoe, and Ellen R. McGrattan 2002 Can Sticky Price Models Generate Volatile and Persistent Real Exchange Rates Review of Economic Studies, 69, 533 563.
    • (2002) Review of Economic Studies , vol.69 , pp. 533-563
    • Chari, V.V.1    Kehoe, P.J.2    McGrattan, E.R.3
  • 12
    • 44949278340 scopus 로고
    • Commodity trade and international risk sharing: How much do financial markets matter
    • Cole, Harold L., and Maurice Obstfeld 1991 Commodity Trade and International Risk Sharing: How Much Do Financial Markets Matter Journal of Monetary Economics, 28, 3 24.
    • (1991) Journal of Monetary Economics , vol.28 , pp. 3-24
    • Cole, H.L.1    Obstfeld, M.2
  • 14
    • 0003314941 scopus 로고    scopus 로고
    • Welfare and macroeconomic interdependence
    • DOI 10.1162/00335530151144069
    • Corsetti, Giancarlo, and Paolo Pesenti 2001 Welfare and Macroeconomic Interdependence Quarterly Journal of Economics, 116, 421 445. (Pubitemid 33584296)
    • (2001) Quarterly Journal of Economics , vol.116 , Issue.2 , pp. 421-445
    • Corsetti, G.1    Pesenti, P.2
  • 15
    • 15844370501 scopus 로고    scopus 로고
    • International dimensions of optimal monetary policy
    • Corsetti, Giancarlo, and Paolo Pesenti 2005 International Dimensions of Optimal Monetary Policy Journal of Monetary Economics, 52, 281 305.
    • (2005) Journal of Monetary Economics , vol.52 , pp. 281-305
    • Corsetti, G.1    Pesenti, P.2
  • 16
    • 40449136103 scopus 로고    scopus 로고
    • International risk-sharing and the transmission of productivity shocks
    • Corsetti, Giancarlo, Luca Dedola, and Sylvain Leduc 2008 International Risk-Sharing and the Transmission of Productivity Shocks Review of Economic Studies, 75, 443 473.
    • (2008) Review of Economic Studies , vol.75 , pp. 443-473
    • Corsetti, G.1    Dedola, L.2    Leduc, S.3
  • 18
    • 57849109359 scopus 로고    scopus 로고
    • Monetary policy and welfare in a small open economy
    • De Paoli, Bianca 2009 Monetary Policy and Welfare in a Small Open Economy Journal of International Economics, 77, 11 22.
    • (2009) Journal of International Economics , vol.77 , pp. 11-22
    • De Paoli, B.1
  • 19
    • 0142246855 scopus 로고    scopus 로고
    • Monetary policy in the open economy revisited: Price setting and exchange rate flexibility
    • Devereux, Michael, and Charles Engel 2003 Monetary Policy in the Open Economy Revisited: Price Setting and Exchange Rate Flexibility Review of Economic Studies, 70, 765 784.
    • (2003) Review of Economic Studies , vol.70 , pp. 765-784
    • Devereux, M.1    Engel, C.2
  • 22
    • 22144493780 scopus 로고    scopus 로고
    • Monetary policy and exchange rate volatility in a small open economy
    • Gali, Jordi, and Tommaso Monacelli 2005 Monetary Policy and Exchange Rate Volatility in a Small Open Economy Review of Economic Studies, 72, 707 734.
    • (2005) Review of Economic Studies , vol.72 , pp. 707-734
    • Gali, J.1    Monacelli, T.2
  • 23
    • 33751093022 scopus 로고    scopus 로고
    • Macroeconomic interdependence under incomplete markets
    • Ghironi, Fabio 2006 Macroeconomic Interdependence under Incomplete Markets Journal of International Economics, 70, 428 450.
    • (2006) Journal of International Economics , vol.70 , pp. 428-450
    • Ghironi, F.1
  • 24
    • 0036216912 scopus 로고    scopus 로고
    • Financial autarky and international business cycles
    • Heathcote, Jonathan, and Fabrizio Perri 2002 Financial Autarky and International Business Cycles Journal of Monetary Economics, 49, 601 627.
    • (2002) Journal of Monetary Economics , vol.49 , pp. 601-627
    • Heathcote, J.1    Perri, F.2
  • 32
    • 0345982186 scopus 로고    scopus 로고
    • An optimization-based framework for the evaluation of monetary policy
    • In. edited by. Ben S. Bernanke. and. Julio J. Rotemberg. Cambridge, MA. MIT Press
    • Rotemberg, Julio J., and Michael Woodford 1997 An Optimization-Based Framework for the Evaluation of Monetary Policy In NBER Macroeconomics Annual 1997, edited by Ben S. Bernanke and Julio J. Rotemberg. Cambridge, MA : MIT Press.
    • (1997) NBER Macroeconomics Annual 1997
    • Rotemberg, J.J.1    Woodford, M.2
  • 33
    • 34047260767 scopus 로고    scopus 로고
    • Optimal monetary policy and the timing of asset trade in open economies
    • Senay, Ozge, and Alan Sutherland 2007 Optimal Monetary Policy and the Timing of Asset Trade in Open Economies Economics Letters, 95, 297 302.
    • (2007) Economics Letters , vol.95 , pp. 297-302
    • Senay, O.1    Sutherland, A.2
  • 35
    • 14644422669 scopus 로고    scopus 로고
    • Incomplete pass-through and the welfare effects of exchange rate variability
    • Sutherland, Alan 2005 Incomplete Pass-Through and the Welfare Effects of Exchange Rate Variability Journal of International Economics, 65, 375 399.
    • (2005) Journal of International Economics , vol.65 , pp. 375-399
    • Sutherland, A.1
  • 36
    • 0042225083 scopus 로고    scopus 로고
    • What is wrong with taylor rules? using judgment in monetary policy through targeting rules
    • Svensson, Lars 2003 What Is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules Journal of Economic Literature, 41, 426 477.
    • (2003) Journal of Economic Literature , vol.41 , pp. 426-477
    • Svensson, L.1
  • 37
    • 0035138122 scopus 로고    scopus 로고
    • The role of consumption substitutability in the international transmission of monetary shocks
    • Tille, Cedric 2001 The Role of Consumption Substitutability in the International Transmission of Monetary Shocks Journal of International Economics, 53, 421 444.
    • (2001) Journal of International Economics , vol.53 , pp. 421-444
    • Tille, C.1
  • 38
    • 0001178002 scopus 로고
    • Domestic and foreign disturbances in an optimizing model of exchange-rate determination
    • Turnovsky, Stephen 1985 Domestic and Foreign Disturbances in an Optimizing Model of Exchange-Rate Determination Journal of International Money and Finance, 4, 151 171.
    • (1985) Journal of International Money and Finance , vol.4 , pp. 151-171
    • Turnovsky, S.1
  • 39
    • 2942704058 scopus 로고    scopus 로고
    • Monetary policy under imperfect capital markets in a small open economy
    • Tuladhar, Anita 2003 Monetary Policy under Imperfect Capital Markets in a Small Open Economy American Economic Review, 93, 266 270.
    • (2003) American Economic Review , vol.93 , pp. 266-270
    • Tuladhar, A.1
  • 40
    • 0000510157 scopus 로고    scopus 로고
    • How big are potential gains from international risk sharing
    • Van Wincoop, Eric 1999 How Big Are Potential Gains from International Risk Sharing Journal of International Economics, 47, 109 135.
    • (1999) Journal of International Economics , vol.47 , pp. 109-135
    • Van Wincoop, E.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.