The Simple Geometry of Transmission and Stabilization in Closed and Open Economies
Published Date
Copyright 2008
This chapter provides a graphical introduction to the recent literature on macroeconomic stabilization in closed and open economies. Among the issues we discuss: international transmission of real and monetary shocks and the role of exchange rate pass-through; optimal monetary policy and the welfare gains from macroeconomic stabilization; monetary coordination among interdependent economies.
More from NBER
In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Retirement and Disability, the Bulletin on Health, and the Bulletin on Entrepreneurship — as well as online conference reports, video lectures, and interviews.
Cecilia Rouse, president of the Brookings Institution and a professor at Princeton University, who chaired the Council...
Background Materials:backgroundAthey, Susan, Undral Byambadalai, Vitor Hadad, Sanath Kumar Krishnamurthy, Weiwen Leung...
