implication of the theory is that globalization forces could induce monetary authorities, to put a greater emphasis on reducing …

In the presence of lumpy investment cost of adjustment, globalization may have non-conventional effects on the level of …-validating expectations. In this sense globalization destabilizes the economy. There can be substantial gains from globalization in the …

The paper provides an integrated analysis of globalization effects on the inflation-output tradeoff and monetary policy … flatten the Phillips curve, the tradeoff between inflation and activity. Second, the same globalization forces lead the …

The paper provides a unified analysis of globalization effects on the Phillips curve and monetary policy, in a New … inflation and activity. If policy makers are guided by the welfare criterion of the representative household, globalization …

The note analyzes how globalization forces induce monetary authorities, guided in their policies by the welfare …

In recent years the world economy has been subject to large and unsyncronized changes in fiscal policies, high and … builds on a two-country model of the world economy which is applied to the analysis of the transmission and effects of …

This paper deals with the international transmission of the effects of budget deficits on world rates of interest and … spending. The model assumes a two-country world within which capital markets are integrated, individuals behave rationally, and … horizon was finite. This formulation generates asimple pattern of aggregate behavior of the two-country world, and it assures …