Inflation in Open Economies with Complete Markets
β Scribed by Marco Celentani; J. Ignacio Conde-Ruiz; Klaus Desmet
- Publisher
- Springer
- Year
- 2006
- Tongue
- English
- Weight
- 200 KB
- Volume
- 31
- Category
- Article
- ISSN
- 0938-2259
No coin nor oath required. For personal study only.
π SIMILAR VOLUMES
## 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
## Abstract With quarterly data from Israel and Turkey we estimate generalized impulse response functions to show that inflation has no longβrun real effects on consumption, investment and the current account balance. The findings are robust even after allowing for inflation volatility obtained thr