Discretion

International heterogeneity of nominal wages and optimal monetary policy
This paper examines optimal monetary policy in a two-country model with staggered nominal prices and wages. We show that given home …
Daisuke Ida, Mitsuhiro Okano
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International heterogeneity of nominal wages and optimal monetary policy
Delegating Optimal Monetary Policy Inertia in a Small-Open Economy
This paper explores the delegation of several targeting regimes in a small open new Keynesian (NK) model and examines how central banks …
Daisuke Ida, Mitsuhiro Okano
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Delegating Optimal Monetary Policy Inertia in a Small-Open Economy