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Friedman redux: Restricting monetary policy rules to support flexible exchange rates

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  • Devereux, Michael B.
  • Shi, Kang
  • Xu, Juanyi

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  • Devereux, Michael B. & Shi, Kang & Xu, Juanyi, 2005. "Friedman redux: Restricting monetary policy rules to support flexible exchange rates," Economics Letters, Elsevier, vol. 87(3), pages 291-299, June.
    • Handle: RePEc:eee:ecolet:v:87:y:2005:i:3:p:291-299
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    References listed on IDEAS

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    1. Giancarlo Corsetti & Paolo Pesenti, 2002. "Self-validating optimum currency areas," Staff Reports 152, Federal Reserve Bank of New York.
    2. Devereux, Michael B. & Engel, Charles & Storgaard, Peter E., 2004. "Endogenous exchange rate pass-through when nominal prices are set in advance," Journal of International Economics, Elsevier, vol. 63(2), pages 263-291, July.
    3. Corsetti, Giancarlo & Pesenti, Paolo, 2005. "International dimensions of optimal monetary policy," Journal of Monetary Economics, Elsevier, vol. 52(2), pages 281-305, March.
    4. Maurice Obstfeld & Kenneth Rogoff, 2002. "Global Implications of Self-Oriented National Monetary Rules," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(2), pages 503-535.
    5. Michael B. Devereux & Charles Engel, 2003. "Monetary Policy in the Open Economy Revisited: Price Setting and Exchange-Rate Flexibility," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 70(4), pages 765-783.
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    Cited by:

    1. Chen, Sihao & Devereux, Michael B. & Shi, Kang & Xu, Juanyi, 2021. "Exchange rates, local currency pricing and international tax policies," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 460-472.
    2. Stéphane Auray & Aurélien Eyquem & Gérard Hamiache & Jean‐Christophe Poutineau, 2008. "Sharing Money Creation in a Monetary Union," Review of International Economics, Wiley Blackwell, vol. 16(5), pages 817-834, November.
    3. Liutang Gong & Chan Wang & Heng-fu Zou, 2017. "Optimal Exchange-Rate Policy in a Model of Local-Currency Pricing with Vertical Production and Trade," Open Economies Review, Springer, vol. 28(1), pages 125-147, February.
    4. Michael B. Devereux & Kang Shi & Juanyi Xu, 2010. "Oil Currency and the Dollar Standard: A Simple Analytical Model of an International Trade Currency," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(4), pages 521-550, June.
    5. Liu, Qing & Shi, Kang & Wu, Zhouheng & Xu, Juanyi, 2014. "Oil price stabilization and global welfare," Journal of Development Economics, Elsevier, vol. 111(C), pages 246-260.

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