NEDER ÁNGEL ENRIQUE
Congresos y reuniones científicas
Título:
A model about the interaction of the Monetary Policy in an advanced and an emerging economy
Lugar:
Valencia y Vila-Real
Reunión:
Seminario; Arnoldshain Seminar XII; 2014
Institución organizadora:
Institute of International Economics, Universitat Jaume I and University of Valencia
Resumen:
In this paper a Dynamic Stochastic General Equilibrium model in the New Keynesian tradition is developed for two open economies, namely: an advanced and an emerging one. A critical distinction between the economies under study rests on the location of financial frictions: while imperfections will affect the domestic credit market in the advanced economy, it is the foreign exchange market that will be subject to frictions in the emerging one. There is also a distintion related to the monetary policy carried out by each Central Bank: the monetary authority in the developed economy directs its policy to monitor the condition of its own financial sector, while the Central Bank in emerging economy focus its efforts on regulation the evolution of external payments and the exchange rate.