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An open-economy transition model

โœ Scribed by Debra Moore Patterson

Publisher
Springer US
Year
1999
Tongue
English
Weight
918 KB
Volume
5
Category
Article
ISSN
1083-0898

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## Abstract This paper develops a model of inflation targeting in a small open economy under floating exchange rates. The central bank follows a simple Taylor rule to achieve a target inflation rate, and the inflation process itself is determined by an expectations augmented Phillips curve mechanis