Bullard, James Brian (contributor); Singh, Aarti (contributor) - 2007 - Rev.
openness and the degree of exchange rate pass-through
are key factors for generating a determinate equilibrium under a given … paper, and find that the degree of exchange rate exposure is a key
determinant of whether purely inward-looking policies or … household in country j maximizes
E
0
∞
X
t=0
β
t
n
U(C
j
t
)−V
h
N
j
t
(h)
io
, (1)
where
U
³
C
j
t
´
−V
h
N
j
t
(h)
i
=
(C
j
t …