The central bank's optimal objective function is analyzed in a small open economy model allowing for incomplete exchange rate pass-through. The results indicate that social welfare can only be marginally improved by including an explicit exchange-rate term in the delegated objective function,...

The performance of various monetary rules is investigated in an open economy with incomplete exchange rate pass-through. Implementing monetary policy through an exchange-rate augmented policy rule does not improve social welfare compared to using an optimized Taylor rule, irrespective of the...

The Pareto dominance relation is shown to be the unique nontrivial partial order on the set of finite-dimensional real vectors satisfying a number of intuitive properties. -- Pareto dominance ; characterization

OBJECTIVE: This article examines whether there are differences in men's and women's use of the Internet and whether any such gender gaps have changed in recent years. METHODS: We use data from several surveys during the period 1997 to 2001 to show trends in Internet usage and to estimate...