@techreport{Wohltmann2005Monetary,
abstract = {The paper analyzes the impacts of anticipated and unanticipated monetary
policies on two large open economies that are dependent upon raw materials
imports from a small third country. The analysis is based on asymmetric
behavior on the supply side of both economies and an endogenous commod-
ity pricing equation of Phillips' curve type. It is shown that an increase in
the growth rate of domestic money supply is not neutral in the long run but
induces contractionary output effects in both economies. The paper also dis-
cusses the impacts of monetary policy rules that either reduce the in\textdegree{}ationary
or contractionary output effects of commodity price shocks.},
author = {Hans-Werner Wohltmann and Roland C. Winkler},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E63; F42; Q43; 330; Monetary Policy; Oil Price Shocks; International Policy Coordination; Geldpolitik; Offene Volkswirtschaft; Zwei-L\"{a}nder-Modell; Mineral\"{o}lpreisschock; Internationale wirtschaftspolitische Koordination; Theorie; Dynamisches Modell; Theorie},
language = {eng},
number = {2005,17},
title = {Monetary Policy Dynamics in Large Oil-Dependent Economies},
type = {Economics working paper / Christian-Albrechts-Universit\"{a}t Kiel, Department of Economics},
url = {http://hdl.handle.net/10419/22003},
year = {2005}
}
