This paper builds a baseline two-country model of real and monetary transmission under optimal international price discrimination. Distributing traded goods to consumers requires nontradables; because of distributive trade, the price elasticity of export demand depends on the exchange rate....

Summary of proceedings from the 1986 Fall Academic Conference sponsored by the Federal Reserve Bank of San Francisco

Inference about common international stochastic trends and interest rates is gained using a small open economy model, data from seven developed countries, and Bayesian methods. Shocks to these common factors explain up to 17 percent of the variability of output in several economies....

A nontechnical survey of research undertaken during the last decade on international macroeconomic policy coordination that clarifies the sophisticated mathematics inherent in these studies.