Global Implications of Self-Oriented National Monetary Rules

DOI10.1162/003355302753650319zbMATH Open1035.91052OpenAlexW2155143309MaRDI QIDQ4549682FDOQ4549682

Authors: Maurice Obstfeld, Kenneth S. Rogoff 

Publication date: 31 October 2002

Published in: The Quarterly Journal of Economics (Search for Journal in Brave)

Full work available at URL: https://escholarship.org/uc/item/6412m5b7

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zbMATH Keywords

closed-form solutionsolving explicitly for expected utilitytwo-country sticky-wage modelwage and price setting

Mathematics Subject Classification ID

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

Cited In (31)

• Sellers' local currency pricing or buyers' local currency pricing: does it matter for international welfare analysis?
• Optimal monetary policy under a global dollar standard: the effect of vertical trade and production
• Competitive equilibrium hyperinflation under rational expectations
• Government purchases and the real exchange rate
• Policy coordination under model disagreement and uncertainty
• Gains from international monetary policy coordination: does it pay to be different?
• Labour market asymmetries in a monetary union
• Solution to the Siegel paradox
• Higher-order properties of the `Exchange rate dynamics redux' model
• Friedman redux: restricting monetary policy rules to support flexible exchange rates
• Exchange rates dynamics with long-run risk and recursive preferences
• Exchanges and measures of risks
• The international transmission of monetary policy in a dollar pricing model
• Elastic attention, risk sharing, and international comovements
• Local currency pricing, foreign monetary shocks and exchange rate policy
• Vertical trade, exchange rate pass-through, and the exchange rate regime
• Optimum Monetary Policy during Monetary Union Enlargement
• The expenditure switching effect, welfare and monetary policy in a small open economy
• Specific factors and International monetary policy coordination
• How important is fiscal policy cooperation in a currency union?
• IMPLEMENTING INTERNATIONAL MONETARY COOPERATION THROUGH INFLATION TARGETING
• Common Currencies vs. Monetary Independence
• Fiscal policy and macroeconomic stabilizations: what are the gains from cooperation?
• The Asian financial crisis and investors' risk aversion
• Wage or price-based inflation? Alternative targets in optimal monetary policy rules
• Transmission of nominal exchange rate changes to export prices and trade flows and implications for exchange rate policy
• Expectation traps in a New Keynesian open economy model
• Joining the European monetary union-comparing first and second generation open economy models
• Optimal exchange-rate policy in a model of local-currency pricing with vertical production and trade
• Why clashes between internal and external stability goals end in currency crises
• Intertemporal versus spatial externalities in counterterror policy games

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