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Please use this identifier to cite or link to this item:
http://hdl.handle.net/2108/313
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Full metadata record
| DC Field | Value | Language |
|---|
| contributor.author | Kuralbayeva, Karlygash | - |
| date.accessioned | 2007-03-05T11:33:58Z | - |
| date.available | 2007-03-05T11:33:58Z | - |
| date.issued | 2007-03 | - |
| identifier.uri | http://papers.ssrn.com/sol3/papers.cfm?abstract_id=962665 | - |
| identifier.uri | http://hdl.handle.net/2108/313 | - |
| description.abstract | We analyze implications of inflation persistence for business cycle dynamics following terms of trade and risk-premium shocks in a small open economy, under fixed and flexible exchange rate regimes. We show that the country's adjustment paths are slow and cyclical if there is a significant backward-looking element in the inflation dynamics and the exchange rate is fixed. We also show that such cyclical adjustment paths are moderated if there is a high proportion of forward-looking price setters. In contrast, with an independent monetary policy, flexible exchange rate allows to escape severe cycles, supporting the conventional wisdom about the insulation role of flexible exchange rates. | en |
| format.extent | 3693019 bytes | - |
| format.mimetype | application/pdf | - |
| language.iso | en | en |
| publisher | CEIS | en |
| relation.ispartofseries | CEIS Tor Vergata Research Paper; 95 | en |
| subject | infl‡ation inertia | en |
| subject | monetary policy | en |
| subject | exchange rates | en |
| subject | Phillips curve | en |
| subject | small open economy | en |
| title | Inflation persistence: implications for a design of monetary policy in a small open economy subject to external shocks | en |
| type | Article | en |
| subject.jel | E32; Business fluctuations, cycles | en |
| subject.jel | F40; Macroeconomic aspects of international trade and finance. General | en |
| subject.jel | F41; Open economy macroeconomics | en |
| Appears in Collections: | Research papers
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Description |
Size | Format |
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| SSRN-id962665.pdf | | 3606Kb | Adobe PDF | View/Open |
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