Financial openness, nontradable inflation and optimal monetary policy
This paper examines capital inflow dynamics for varying degrees of financial openness under a Taylor-type rule. The findings show that higher openness generates a more sensitive response in nontradable inflation, and that optimal monetary policy varies with the degree of openness.
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- Emmanuel K. K. Lartey, 2008. "Capital Inflows, Dutch Disease Effects, and Monetary Policy in a Small Open Economy," Review of International Economics, Wiley Blackwell, vol. 16(5), pages 971-989, November.
- Emmanuel K. K. Lartey, 2008. "Capital Inflows, Resource Reallocation and the Real Exchange Rate," International Finance, Wiley Blackwell, vol. 11(2), pages 131-152, 08.
- Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, vol. 12(3), pages 383-398, September.
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