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The Simple Geometry of Transmission and Stabilization in Closed and Open Economies / Giancarlo Corsetti, Paolo Pesenti.
- Format:
- Book
- Author/Creator:
- Corsetti, Giancarlo.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w11341.
- NBER working paper series no. w11341
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2005.
- Summary:
- This paper provides an introduction to the recent literature on macroeconomic stabilization in closed and open economies. We present a stylized theoretical framework, and illustrate its main properties with the help of an intuitive graphical apparatus. Among the issues we discuss: optimal monetary policy and the welfare gains from macroeconomic stabilization; international transmission of real and monetary shocks and the role of exchange rate pass-through; the design of optimal exchange rate regimes and monetary coordination among interdependent economies.
- Notes:
- Print version record
- May 2005.
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