Ried, Stefan - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2009
In this paper, the following question is posed: Can the New Keynesian Open Economy Model by Galí and Monacelli (2005b) explain “Six Major Puzzles in International Macroeconomics”, as documented in Obstfeld and Rogoff (2000b)? The model features a small open economy with complete markets,...