International transmission effects of mo
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Caroline Schmidt
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Article
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2006
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John Wiley and Sons
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English
β 174 KB
π 1 views
How does an unexpected domestic monetary expansion affect the foreign economy? Does it induce an increase or a decline in foreign production? In the traditional two-country Mundell-Fleming model, monetary policy reveals 'beggarthy-neighbour' effects. Yet, empirical evidence from VARs indicates that