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Currency Substitution, Flexible Exchange Rates, and Monetary Independence

✍ Scribed by Marc A. Miles


Book ID
125651154
Publisher
American Economic Association
Year
1978
Tongue
English
Weight
270 KB
Volume
68
Category
Article
ISSN
0002-8282

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Optimal monetary policy under flexible e
✍ Stephen J. Turnovsky πŸ“‚ Article πŸ“… 1979 πŸ› Elsevier Science 🌐 English βš– 793 KB

This paper considers optimal monetary stabilization policy under flexible exchange rates in a model where exchange rate expectations are generated regressively. The analysis highlights the intimate relationship that exists between: (a) the direction of the optimal monetary feedback rule, (b) the amo