The simple geometry of transmission and stabilization in closed and open economies
By: Giancarlo Corsetti, Paolo Pesenti.
Contributors: Pesenti, Paolo A.; Federal Reserve Bank of New York.
Series: Staff reports ;; no. 209; Staff reports (Federal Reserve Bank of New York : Online) ;; no. 209.
Publisher: Federal Reserve Bank of New York
Published: 2005
Place of publication: [New York, N.Y.]
Language: eng
Format: Electronic resource
Subjects: Monetary policy -- Econometric models.; Foreign exchange rates -- Econometric models.
Description: "This paper provides an introduction to the recent literature on macroeconomic stabilization in closed and open economies.  We present a stylized theoretical framework, illustrating its main properties with the help of an intuitive graphical apparatus.  Among the issues we discuss are optimal monetary policy and the welfare gains from macroeconomic stabilization, the international transmission of real and monetary shocks and the role of exchange rate pass-through, and the design of optimal exchange rate regimes and monetary coordination among interdependent economies"--Federal Reserve Bank of New York web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 5/6/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.