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An Announced Regime Switch: Optimal Policy for the Transition Period

František Brázdik

Czech Journal of Economics and Finance (Finance a uver), 2011, vol. 61, issue 5, 411-431

Abstract: The novelty of this article is its theoretical framework, which allows for modeling of an announced change in the type of monetary regime operated. The behavior of a small open economy that has announced the adoption of a monetary policy regime of offsetting nominal exchange rate changes is analyzed. The optimal monetary regime for the transition period and its effects on macroeconomic stability are studied. Moreover, the evolution of business cycle synchronization over the transition is analyzed.

Keywords: new-Keynesian models; small open economy; monetary regime change (search for similar items in EconPapers)
JEL-codes: E17 E31 E52 E58 E61 F02 F41 (search for similar items in EconPapers)
Date: 2011
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Working Paper: Announced Regime Switch: Optimal Policy for Transition Period (2009) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:fau:fauart:v:61:y:2011:i:5:p:411-431

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