Optimal monetary policy in the monetary union: effects on business cycles

Autor:	Mehdi Pedram
Rok vydání:	2011
Předmět:	Inflation Macroeconomics Economics and Econometrics Monetarism Inflation targeting media_common.quotation_subject Monetary policy Monetary economics Monetary hegemony Credit channel General Energy Economic and monetary union Economics Monetary base media_common
Zdroj:	OPEC Energy Review. 35:90-117
ISSN:	1753-0229
DOI:	10.1111/j.1753-0237.2010.00183.x
Popis:	The difficulties of a common monetary policy in an economic and monetary union are well known where there are differences between the stage of the business cycles and inflation pressures. In this paper, I will show that in a simple open macro model and by using ‘weighted mean mechanism’ monetary authorities can employ a common monetary policy to synchronise diverging business cycles in the member states.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::814e89dbc39190d96e8df29e7fe952c4 https://doi.org/10.1111/j.1753-0237.2010.00183.x Zobrazit plný text záznamu