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연구원소식

Asset Market Structures and Monetary Policy in a Small Economy

  • 작성일2011/06/08
  • 분류분류없음
  • 조회수6,918
At the heart of the policy debate in international finance lies the question of whether monetary authorities should react to both fluctuations in international relative prices and domestic output and inflation. Several papers have explored how monetary policy should react to disturbances in open economies with complete asset markets. These papers have emphasized that monetary policy is influenced by the presence of a terms of trade externality.
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