Islk, Nihat; Acar, Mustafa - In: Journal of Economic Integration 20 (2005), pp. 52-67
This paper examines whether the effects of monetary policy on the exchange rates depend on the degree of openness of an economy. Theoretically, it can be shown that the effect of openness on the ability of money to influence the exchange rate is ambiguous. In light of this, the purpose of this...