Hoffmann, Mathias; Kempa, Bernd - Institut für Finanzmarktforschung, Wirtschafts- und … - 2006
This paper evaluates simple, non-optimising monetary policy rules in the tradition of the well-known Poole analysis within a general two-country open-economy model of the New Open Economy Macroeconomic framework. Pure money supply rules are compared with simple interest rate rules for the large...