| dc.creator |
Pierdzioch, Christian |
|
| dc.creator |
Yener, Serkan |
|
| dc.date |
2004 |
|
| dc.date.accessioned |
2013-10-16T06:56:38Z |
|
| dc.date.available |
2013-10-16T06:56:38Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/17764 |
|
| dc.identifier |
ppn:389161829 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/17764 |
|
| dc.description |
Results of empirical research have revealed a characteristic hump-shaped effect of monetary policy shocks on output: the effect builds to a peak after several months and then gradually dies out. We analyze, in the context of a "new open economy macroeconomics" model, factors that imply a hump- shaped effect of a monetary policy shock on output. We find that a hump- shaped effect of output is likely to result if the model features a "catching up with the Joneses" effect, pricing-to-market behavior of firms, and imperfect international financial market integration. |
|
| dc.language |
eng |
|
| dc.publisher |
Kiel Institute for the World Economy (IfW) Kiel |
|
| dc.relation |
Kieler Arbeitspapiere 1214 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
F31 |
|
| dc.subject |
F32 |
|
| dc.subject |
F41 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
Monetary policy |
|
| dc.subject |
Catching up with the Joneses |
|
| dc.subject |
Pricing-to-market |
|
| dc.subject |
International financial markets |
|
| dc.subject |
Geldpolitik |
|
| dc.subject |
Schock |
|
| dc.subject |
Gesamtwirtschaftliche Produktion |
|
| dc.subject |
Neue Makroökonomik offener Volkswirtschaften |
|
| dc.subject |
Theorie |
|
| dc.title |
On the Hump-Shaped Output Effect of Monetary Policy in an Open Economy |
|
| dc.type |
doc-type:workingPaper |
|