Publication
May 2002
This paper analyzes the consequences of international capital mobility for the effectiveness of monetary policy in open economies. Employing a dynamic general equilibrium two-country optimizing model, it shows that the substitutability of goods produced in different countries plays a central role.
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English (PDF, 26 pages, 407 KB) |
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Author | Christian Pierdzioch |
Series | Kiel Institute Working Papers |
Issue | 1110 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2002 Kiel Institute for the World Economy |