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Hysteresis in an Open Economy Model

✍ Scribed by Terry O’Shaughnessy


Book ID
108538666
Publisher
John Wiley and Sons
Year
2000
Tongue
English
Weight
563 KB
Volume
47
Category
Article
ISSN
0036-9292

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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