Optimal monetary policy in a two country model with firm-level heterogeneity

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.

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Year of publication:	2012
Authors:	Cooke, Dudley
Institutions:	Federal Reserve Bank of Dallas
Subject:	Price levels \| Macroeconomics - Econometric models

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Extent:	application/pdf
Series:	Globalization and Monetary Policy Institute Working Paper.
Type of publication:	Book / Working Paper
Notes:	Number 104
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009421355