Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/144233 
Erscheinungsjahr: 
2002
Schriftenreihe/Nr.: 
NBB Working Paper No. 19
Verlag: 
National Bank of Belgium, Brussels
Zusammenfassung: 
This paper analyses the implications of imperfect exchange rate passthrough for optimal monetary policy in a linearised open-economy dynamic general equilibrium model calibrated to euro area data. Imperfect exchange rate pass through is modelled by assuming sticky import price behaviour. The degree of domestic and import price stickiness is estimated by reproducing the empirical identified impulse response of a monetary policy and exchange rate shock conditional on the response of output, net trade and the exchange rate. It is shown that a central bank that wants to minimise the resource costs of staggered price setting will aim at minimising a weighted average of domestic and import price inflation.
Schlagwörter: 
monetary policy
open economies
exchange rate pass-through
JEL: 
E58
F41
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
318.9 kB





Publikationen in EconStor sind urheberrechtlich geschützt.