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

Economics

Speaker:Dudley Cooke,
Website: http://business-school.exeter.ac.uk/about/whoswho/index.php?web_id=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.