monetary policy shock and a negative spillover for a foreign shock. These results hold for conventional and unconventional … impact on monetary policy transmission. …

financial contracts), and monetary policy interact in a general equilibrium, new open-economy macroeconomics model with real … shocks. Real dollarization is avoided as long as the home monetary authorities conduct monetary policy optimally (maximize … domestic and external shocks is high, since in this case the (presumably optimal) foreign monetary policy guarantees a better …

real exchange rate. Using a small open-economy model, this paper examines alternative monetary policy rules for economies …