This paper studies the effect on monetary policy of differing degrees of competition and differing degrees of nominal … International Economics 63, 293-320] by showing that, if the degree of competition differs between countries, the optimal rule could …

This paper studies the effect on monetary policy of a non-homogeneous degree of competition across the (two) members of … results of Benigno (2003) in two ways. First, we show that, if the degree of competition differs across countries, the optimal …. We show that this can alter Benigno's results even under asymmetric degree of competition. Our study suggests that the …