World food prices and monetary policy

How should monetary policy respond to large fluctuations in world food prices? We study this question in an open economy model in which imported food has a larger weight in domestic consumption than abroad and international risk sharing can be imperfect. A key novelty is that the real exchange rate...

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Veröffentlicht in:	Journal of monetary economics 2015-10, Vol.75, p.69-88
Hauptverfasser:	Catão, Luis A.V., Chang, Roberto
Format:	Artikel
Sprache:	eng
Schlagworte:	Exchange rates Food prices Foreign exchange rates Monetary policy Price elasticity Prices Real exchange rates Risk sharing Small open economy Studies Terms of trade
Online-Zugang:	Volltext
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