Monetary Policy in the Open Economy Revisited: Price Setting and Exchange-Rate Flexibility

DOI10.1111/1467-937X.00266MaRDI QIDQ4468841zbMATH OpenWikidataFDO

Authors Michael B. Devereux, Charles Engel

Publication date 11 June 2004

Published in Review of Economic Studies (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1111/1467-937X.00266

zbMATH Keywords

local-currency pricing (LCP)monetary policy

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

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Cited in

(38)

• Wage or price-based inflation? Alternative targets in optimal monetary policy rules
• Optimal exchange-rate policy in a model of local-currency pricing with vertical production and trade
• Friedman redux: restricting monetary policy rules to support flexible exchange rates
• Optimal monetary policy and the timing of asset trade in open economies
• Monetary policy responses and strategic price setting
• Monetary policy in open economies: practical perspectives for pragmatic central bankers
• Optimal fiscal substitutes for the exchange rate in monetary unions
• On the relevance of exchange rate regimes for stabilization policy
• Fiscal policy and macroeconomic stabilizations: what are the gains from cooperation?
• Monetary policy analysis in a small open credit-based economy
• Specific factors and International monetary policy coordination
• Is there a case for domestic inflation target?
• The quantitative importance of the expenditure-switching effect
• The macroeconomic effects of large exchange rate appreciations
• Exchange rate pass-through in a small open economy: the importance of the distribution sector
• Vertical trade, exchange rate pass-through, and the exchange rate regime
• Optimal monetary policy under a global dollar standard: the effect of vertical trade and production
• Local currency pricing, foreign monetary shocks and exchange rate policy
• Financial openness, nontradable inflation and optimal monetary policy
• On optimal monetary policy rules and the construction of MCIs in the open economy
• The Mundellian trilemma and optimal monetary policy in a world of high capital mobility
• Local/import -- and foreign currency prices: inflation, uncertainty and pass through endogeneity
• Transmission of nominal exchange rate changes to export prices and trade flows and implications for exchange rate policy
• IMPLEMENTING INTERNATIONAL MONETARY COOPERATION THROUGH INFLATION TARGETING
• News shocks and asset price volatility in general equilibrium
• Price Stability in Open Economies
• The Effect of Fixed Exchange Rates on Monetary Policy
• Overvalued: Swedish monetary policy in the 1930s
• Financial openness, financial frictions and optimal monetary policy
• Jump connectedness in the European foreign exchange market
• Dollar dominance and the transmission of monetary policy
• The elusive gains from nationally oriented monetary policy
• The shocks matter: labor mobility and the welfare cost of a currency union
• Monetary policy and sovereign risk in emerging economies (NK-default)
• Monetary policy and growth in an open economy with the spirit of capitalism
• Gains from international monetary policy coordination: does it pay to be different?
• Interactions between monetary and fiscal policy under flexible exchange rates
• The expenditure switching effect, welfare and monetary policy in a small open economy

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