Inventories and optimal monetary policy in a small open economy

We study how inventory investment affects the design of optimal monetary policy in a New Keynesian small open economy model. We find that under producer currency pricing, when the intratemporal elasticity of substitution is smaller than 1, optimal monetary policy in our model with inventories is sim...

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Veröffentlicht in:	Journal of international money and finance 2011-12, Vol.30 (8), p.1719-1748
1. Verfasser:	Teo, Wing Leong
Format:	Artikel
Sprache:	eng
Schlagworte:	Economic models Economic policy Economic theory Elasticity Elasticity of substitution Exchange rates Foreign exchange rates Inventories Keynesian theory Keynesianism Monetary policy New Keynesian model Open economies Optimal monetary policy Small open economy Studies
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