Monetary Shocks and Real Exchange Rate Dynamics

Daniela Federici and Sergio Santoro

Chapter 12 in Advances in Monetary Policy and Macroeconomics, 2007, pp 212-232 from Palgrave Macmillan

Abstract: Abstract The highly influential contribution of Obstfeld and Rogoff’s Redux model (1995) essentially initiated a new line of research that reflects the attempt to integrate nominal rigidities and imperfect competition into a dynamic general equilibrium framework within an intertemporal optimization approach. Since then, several theoretical models have been developed, extending the Obstfeld-Rogoff seminal model in order to address a number of macroeconomic issues; this new literature is commonly called ‘New Open Economy Macroeconomics’ (hereafter NOEM).1

Keywords: Interest Rate; Root Mean Square Error; Monetary Policy; Real Exchange Rate; Money Demand (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-80076-2_12

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DOI: 10.1057/9780230800762_12

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