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Persistent link: https://www.econbiz.de/10012991267
This paper studies the effect on monetary policy of a non-homogeneous degree of competition across the (two) members of a monetary union. In particular, we assess the welfare loss brought about by the use of a simple interest rate rule that does not take into account such structural differences....
Persistent link: https://www.econbiz.de/10012991378
Recent data show substantial increases in the size of gross external asset and liability positions. The implications of these developments for optimal conduct of monetary policy are analyzed in a standard open economy model which is augmented to allow for endogenous portfolio choice. The model...
Persistent link: https://www.econbiz.de/10012991117
beruhende Regelbindung der Geldpolitik ohne …
Persistent link: https://www.econbiz.de/10012991311
Persistent link: https://www.econbiz.de/10012991377