Optimal Monetary Policy with Vertical Production and Trade∗

This paper explores the optimal monetary policy response to domestic and foreign tech- nology shocks in an open economy with vertical structure of production ...

Optimal Monetary Policy with Vertical Production and Trade

This paper explores the optimal monetary policy response to domestic and foreign technology shocks in an open economy with vertical structure of production ...

Optimalmonetarypolicyinamodelofvertical ...

This paper examines optimal monetary policy rules in a model of vertical production and trade with reference currency. As evidenced by empirical findings ...

Optimal Monetary Policy with Vertical Production and Trade*

This paper explores the optimal monetary policy response to domestic and foreign technology shocks in an open economy with vertical structure of production ...

(PDF) Optimal monetary policy in a model of vertical production and ...

DOI: 10.1515/BEJM-2014-0148) This paper examines optimal monetary policy rules in a model of vertical production and trade with reference currency.

Optimal Monetary Policy in Production Networks

Second, we demon- strate that monetary policy faces a trade-off between three sources of welfare losses: mis- allocation due to price dispersion within sectors, ...

Optimal Monetary Policy in Production Networks Jennifer La'O and ...

As a result, the policymaker faces a trade-off between minimizing the output gap and productive inefficiency due to inflation. 2Throughout, we assume that these ...

(PDF) Optimal monetary policy in open economies: the role of ...

Optimal monetary policy in open economies: the role of reference currency in vertical production and trade Chan Wanga , Heng-fu Zoua,b,c a China Economics ...

Optimal monetary policy with international trade in intermediate inputs

We derive the loss function of a cooperative monetary policymaker and find that the optimal monetary policy must target intermediate-goods price inflation rates ...

Optimal monetary policy in a model of vertical production an

This paper examines optimal monetary policy rules in a model of vertical production and trade with reference currency. As evidenced by empirical findings, ...

Optimal Monetary Policy in Small Open Economies

There- fore, the terms of trade depreciate. Also, locally produced goods become more competitive at home and crowd out imports in terms of volumes. Consumer ...

Optimal Monetary Policy with Vertical Production and Trade

Request PDF | Optimal Monetary Policy with Vertical Production and Trade | This paper explores the optimal monetary policy response to domestic and foreign ...

The optimal currency basket under vertical trade - ScienceDirect.com

They argued that vertical trade reconciles the welfare consequences of unilateral monetary expansion under different export pricing behaviors. Also, in a ...

Vertical Trade, Exchange Rate Pass ... - Bowdoin Digital Commons

productivity shocks at each stage of production, A, A∗, ˜A, and ˜A∗. ... Xu (2007) 'Optimal monetary policy with vertical production and trade.

Optimal Monetary Policy Under a Global Dollar Standard

The integration of the global economy is becoming increasingly characterized by vertical production and trade processes. This means that ...

OPTIMAL MONETARY POLICY COORDINATION FOR OPEN ...

different value chains of production, complementing each other through vertical trade; and (ii) countries occupying value chains that are closer to final ...

Consumption Heterogeneity and Monetary Policy in an Open ...

503-536. [14] Shi, K. and Xu, J., 2007, “Optimal monetary policy with vertical production and trade,” Review of International Economics, 15(3), pp.514-537. 41.

International Policy Coordination and Simple Monetary Policy Rules in

... trade along vertical production chains. That is ... optimal terms of trade adjustments. The remainder ... In Section IV, the optimal monetary policy rule and ...

(PDF) Vertical Trade, Exchange Rate Pass-Through, and the ...

In fact, Devereux and Engel (2007), Shi and Xu (2007), Pang and Tang (2014) , Wang and Zou (2015), and Gong et al. (2016) analyze optimal monetary policy in an ...

Optimal Policy Rules in HANK | MIT Economics

to our solution for the paths of the policy targets x∗. ... The figure shows the results from three policy rules: optimal monetary policy for a ...