- A. M. Sbordone. Globalization and inflation dynamics: the impact of increased competition. Federal Reserve Bank of New York, 2007.
Paper not yet in RePEc: Add citation now
- A. Meier and G. J. Müller. Fleshing out the monetary transmission mechanism: Output composition and the role of ï¬nancial frictions. Journal of Money, Credit and Banking, 38:2099–2134, 2006.
Paper not yet in RePEc: Add citation now
A. Scholl and H. Uhlig. New evidence from the puzzles: Results from agnostic identiï¬cation on monetary policy and exchange rates. Journal of International Economics, forthcoming, 2008.
- B. S. Bernanke. Globalization and monetary policy. Speech at the Fourth Economic Summit, Stanford Institute for Economic Policy Research, 2007.
Paper not yet in RePEc: Add citation now
C. Betts and M. B. Devereux. Exchange rate dynamics in a model of pricing-to-market. Journal of International Economics, 50(1):215–244, 2000.
C. Betts and M. B. Devereux. The exchange rate in a model of pricing-to-market. European Economic Review, 40(3-5):1007–1021, 1996.
C. Erceg, C. Gust, and D. López-Salido. The transmission of domestic shocks in open economies. mimeo, 2007.
- C. Gust, S. Leduc, and R. J. Vigfusson. Trade integration, competition, and the decline in exchangerate pass-through. International Finance Discussion Papers, Number 864, Board of Governors of the Federal Reserve System, 2006. J. E. Ihrig, M. Marazzi, and A. D. Rothenberg. Exchange-rate pass-through in the G-7 countries.
Paper not yet in RePEc: Add citation now
D. Backus, P. Kehoe, and F. Kydland. Dynamics of the trade balance and the terms of trade: the J-curve? American Economic Review, 84(1):84–103, March 1994.
D. O. Cushman and T. Zha. Identifying monetary policy in a small open economy under flexible exchange rates. Journal of Monetary Economics, 39(3):433–448, 1997.
E. Nakamura and J. Steinsson. Five facts about prices: A reevaluation of menu cost models. mimeo Columbia University, 2008.
- F. S. Mishkin. Globalization, macroeconomic performance, and monetary policy (speech). BIS Review, 108, 2007.
Paper not yet in RePEc: Add citation now
F. Smets and R. Wouters. Comparing shocks and frictions in US and euro area business cycles: a Bayesian DSGE approach. Journal of Applied Econometrics, 20(2):161–183, 2005. F. Smets and R. Wouters. Shocks and frictions in US business cycles: A bayesian DSGE approach.
G. Calvo. Staggered prices in a utility-maximizing framework. Journal of Monetary Economics, 12(3):383–398, 1983.
G. Corsetti and L. Dedola. A macroeconomic model of international price discrimination. Journal of International Economics, 67(1):129–155, 2005.
G. Corsetti and P. Pesenti. International dimensions of optimal monetary policy. Journal of Monetary Economics, 52(2):281–305, 2005.
- G. de Walque, F. Smets, and R. Wouters. An estimated two-country DSGE model for the Euro area and the US economy. mimeo, 2005.
Paper not yet in RePEc: Add citation now
G. Fagan, J. Henry, and R. Mestre. An area-wide model (AWM) for the euro area. ECB Working Paper 42, 2001.
- IMF. World economic outlook database. http://www.imf.org/external/pubs/ft/weo/2007/01/data/index.aspx, 2007.
Paper not yet in RePEc: Add citation now
J. Bovin and M. Giannoni. Has monetary policy become more effective? The Review of Economics and Statistics, 88(3):445–462, 2006.
J. D. Amato and T. Laubach. Estimation and control of an optimization-based model with sticky prices and wages. Journal of Economic Dynamics and Control, 27(7):1181–1215, 2003.
J. Faust and J. H. Rogers. Monetary policy’s role in exchange rate behavior. Journal of Monetary Economics, 50(7):1403–1424, 2003. J. Galà and T. Monacelli. Monetary policy and exchange rate volatility in a small open economy.
J. H. Rogers. Monetary shocks and real exchange rates. Journal of International Economics, 49(2): 269–288, 1999. J. R. Rotemberg and M. Woodford. An optimization-based econometric framework for the evaluation of monetary policy. In J. B. Taylor, editor, NBER Macroeconomics Annual, pages 297–346.
- J. L. Yellen. Monetary policy in a global environment. Speech at The Euro and the Dollar in a Globalized Economy Conference, U.C. Santa Cruz, Stanta Cruz, CA, 2006.
Paper not yet in RePEc: Add citation now
J. M. Campa and L. S. Goldberg. Exchange rate pass-through into import prices. The Review of Economics and Statistics, 87(4):679–690, 2005.
- L. E. Svensson. Open-economy inflation targeting. Journal of International Economics, 50(1):155– 183, 2000.
Paper not yet in RePEc: Add citation now
- L. Guerrieri, C. Gust, and D. López-Salido. International competition and inflation: A new keynesian perspective. International Finance Discussion Papers, 918, 2008.
Paper not yet in RePEc: Add citation now
L. J. Christiano, M. Eichenbaum, and C. L. Evans. Monetary policy shocks: What have we learned and to what end? In J. B. Taylor, editor, Handbook of Macroeconomics, pages 319–347. Elsevier B.V., 1999.
L. J. Christiano, M. Eichenbaum, and C. L. Evans. Nominal rigidities and the dynamic effects of a shock to monetary policy. Journal of Political Economy, 113(1):1–45, 2005.
M. Adolfson, S. Laséen, J. Lindé, and M. Villani. Bayesian estimation of an open economy DSGE model with incomplete pass-through. Journal of International Economics, 72(2):481–511, 2007.
M. Dotsey and R. G. King. Implications of state-dependent pricing for dynamic macroeconomic models. Journal of Monetary Economics, 52(1):213–242, 2005.
M. Eichenbaum and C. L. Evans. Some empirical evidence on the effects of shocks to monetary policy on exchange rates. The Quarterly Journal of Economics, 110(4):975–1009, 1995.
M. Kimball. The quantitative analytics of the basic monetarist model. Journal of Money, Credit and Banking, 27(4):1241–1277, 1995. R. Kollmann. Monetary policy rules in the open economy: Effects on welfare and business cycles.
M. Marazzi, N. Sheets, R. Vigfusson, J. Faust, J. Gagnon, J. Marquez, R. Martin, T. Reeve, and J. Rogers. Exchange rate pass-through to U.S. import prices: Some new evidence. International Finance Discussion Papers 833, 2005.
M. Obstfeld and K. Rogoff. New directions for stochastic open economy models. Journal of International Economics, 50(1):117–153, 2000.
P. R. Bergin. How well can the new open economy macroeconomics explain the exchange rate and current account? Journal of International Money and Finance, 25(5):675–701, 2006.
- R. Clarida and J. Gali. Sources of real exchange-rate fluctuations: How important are nominal shocks? Carnegie-Rochester Conference Series on Public Policy, 41:1–56, 1994.
Paper not yet in RePEc: Add citation now
R. Clarida, J. GalÃ, and M. Gertler. Monetary policy rules and macroeconomic stability: Evidence and some theory. Quarterly Journal of Economics, 115(1):147–180, February 2000.
R. Clarida, J. GalÃ, and M. Gertler. Optimal monetary policy in open versus closed economies: an integrated approach. American Economic Review, 91(2):248–252, 2001.
R. Dornbusch. Exchange rates and prices. American Economic Review, 77(1):93–106, 1987.
R. Kollmann. International portfolio equilibrium and the current account. CEPR Discussion Paper 5512, 2006.
S. Kim and N. Roubini. Exchange rate anomalies in the industrial countries: A solution with a structural VAR approach. Journal of Monetary Economics, 45(3):561–586, 2000.
S. Kim. International transmission of U.S. monetary policy shocks: Evidence from VAR’s. Journal of Monetary Economics, 48(2):339–372, 2001.
T. Lubik and F. Schorfheide. A bayesian look at new open economy macroeconomics. In M. Gertler and K. Rogoff, editors, NBER Macroeconomics Annual 2005, Volume 20, pages 313–366. MIT Press, Cambridge MA, 2006.
V. V. Chari, P. J. Kehoe, and E. R. McGrattan. Can sticky price models generate volatile and persistent real exchange rates? Review of Economics Studies, 69(3):533–563, 2002.