Optimal monetary policy in a small open economy with inflation and output persistence

2012 ◽  
Vol 29 (6) ◽  
pp. 2533-2542 ◽  
Author(s):  
Hyuk-jae Rhee ◽  
Nurlan Turdaliev
Keyword(s):  
Monetary Policy ◽  
Open Economy ◽  
Small Open Economy ◽  
Optimal Monetary Policy ◽  
Output Persistence

Optimal monetary policy in a small open economy: The case of Korea

2007 ◽  
Vol 18 (1) ◽  
pp. 125-143 ◽  
Author(s):  
Jaesik Chung ◽  
Yongseung Jung ◽  
Doo Yong Yang
Keyword(s):  
Monetary Policy ◽  
Open Economy ◽  
Small Open Economy ◽  
Optimal Monetary Policy

Delegating Optimal Monetary Policy Inertia in a Small-Open Economy

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Daisuke Ida ◽  
Mitsuhiro Okano
Keyword(s):  
Monetary Policy ◽  
Open Economy ◽  
Inflation Targeting ◽  
Small Open Economy ◽  
Central Banks ◽  
New Keynesian ◽  
Closed Economy ◽  
Optimal Monetary Policy ◽  
Nk Model ◽  
Exchange Rate Targeting

AbstractThis paper explores the delegation of several targeting regimes in a small open new Keynesian (NK) model and examines how central banks overcome stabilization bias in a small open NK model. Results indicate that both speed limit and real exchange rate targeting can carry the isomorphic properties of optimal monetary policy over to the closed economy. In addition, neither nominal income growth targeting nor CPI inflation targeting replicates a commitment policy. These findings provide new implications for optimal monetary policy in an open economy.

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