DiCecio, Riccardo; Nelson, Edward - Federal Reserve Bank of St. Louis - 2009
would have on the U.K. economy. This paper considers the debate on the United Kingdom's monetary policy options using a … structural open-economy model. We use the Erceg, Gust, and Lopez-Salido (EGL) (2007) model to explore both the existing U.K … stability for the U.K. economy with monetary union. Once large differences in the degree of nominal rigidity across economies …