Bhattarai, Saroj; Lee, Jae Won; Park, Woong Yong - Federal Reserve Bank of Dallas - 2013
associated with nominal rigidities, financial imperfections introduce a wealth redistribution role for monetary policy. Moreover …, the two mechanisms reinforce each other and amplify the effects of monetary policy. On the normative side, financial … spread across member countries - in a prototypical two-country currency union model and study implications for monetary …