Now showing items 1-5 of 5

  • Country Portfolios, collateral constraints and optimal monetary policy 

    Senay, Ozge; Sutherland, Alan James (University of St Andrews, 2016-01-29) - Working or discussion paper
    Recent literature shows that, when international financial trade is absent, optimal policy deviates significantly from strict inflation targeting, but when there is trade in equities and bonds, optimal policy is close to ...
  • Determinacy and learning stability of economic policy in asymmetric monetary union models 

    Boumediene, Farid Jimmy (University of St Andrews, 2010) - Thesis
    This thesis examines determinacy and E-stability of economic policy in monetary union models. Monetary policy takes the form of either a contemporaneous or a forecast based interest rate rule, while fiscal policy follows ...
  • Endogenous price flexibility and optimal monetary policy 

    Senay, Ozge; Sutherland, Alan (2010-11) - Working or discussion paper
    Much of the literature on optimal monetary policy uses models in which the degree of nominal price flexibility is exogenous. There are, however, good reasons to suppose that the degree of price flexibility adjusts endogenously ...
  • Optimal monetary policy, exchange rate misalignments and incomplete financial markets 

    Senay, Ozge; Sutherland, Alan James (University of St Andrews, 2016-01-27) - Working or discussion paper
    Recent literature on monetary policy in open economies shows that, when international financial trade is restricted to a single non-contingent bond, there are significant internal and external trade-offs that prevent optimal ...
  • The timing of asset trade and optimal policy in dynamic open economies 

    Senay, Ozge; Sutherland, Alan (2013-12) - Journal article
    Using a standard open economy DSGE model, it is shown that the timing of asset trade relative to policy decisions has a potentially important impact on the welfare evaluation of monetary policy at the individual country ...