search query: @indexterm EXCHANGE RATES / total: 1242
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| Author: | Leitemo, K. Roisland, O. Torvik, R. |
| Title: | Time inconsistency and the exchange rate channel of monetary policy |
| Journal: | Scandinavian Journal of Economics
2002 : SEP, VOL. 104:3, p. 391-397 |
| Index terms: | Monetary policy Exchange rates Models |
| Language: | eng |
| Abstract: | This paper analyzes time-inconsistency problems related to the exchange rate channel of monetary policy. Within a simple open-economy macroeconomic model, where the exchange rate is the only forward-looking variable, a difference emerges btw. optimal policy under discretion and under commitment. Moreover, the nature of the time-inconsistency problem resembles that resulting from standard New Keynesian models. |
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