Optimal monetary policy in a small, open economy: a general-equilibrium analysis
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Date
2002
Journal Title
Journal ISSN
Volume Title
Publisher
Banco Central de Chile
Abstract
Description
The two central issues in monetary policy are separated by time horizon. The first relates to the short run: what is the appropriate monetary policy across the business cycle? The second relates to the long run: waht is the optimal long-run rate of inflation? This paper explores these classic issues from the ventage point of a small, open economy.
Keywords
POLÍTICA MONETARIA, INFLACIÓN, CICLOS ECONÓMICOS