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Optimal Monetary Policy in a Two Country Model with Firm-Level Heterogeneity


Speaker:Dudley Cooke,
Date: Wednesday 18 January 2012
Time: 12.05
Location: STC B

Further details

This paper studies non-cooperative monetary policy in a two country general equilibrium model where international economic integration is endogenised through firm-level heterogeneity and monopolistic competition. Economic integration between countries is a source of policy competition, generating higher long-run inflation, and increased gains from monetary cooperation.