TY  - JOUR
TI  - Monetary Policy in Open Economies
T2  - European Economic Review
IS  - 6
KW  - exchange rate systems
KW  - imperfect information
KW  - monetary policy
KW  - nominal rigidity
KW  - монетарная политика
AB  - The recent literature on monetary policy in open economies has 
produced a strong presumption in favor of activistic policy and 
flexible exchange rates. We argue that this result may owe much to 
the combination of two commonly made assumptions: That nominal goods 
prices are rigid. And that the monetary authorities have a lot of 
information about the economy. When the source of nominal rigidity is 
found in wages and monetary policy is conducted according to less 
information demanding rules (such as a standard interest rate rule) 
policies that stabilize the money supply or the nominal exchange rate 
may perform better 
AU  - Dellas, Harris
UR  - http://ecsocman.hse.ru/text/19081545/
PY  - 2006
SP  - 1471-1486 
M2  - 1471
VL  - 50
SN  - 
N1  - 
LA  - EN
CY  - 
PB  - 
M3  - 
LB  - 
VL  - 
ER  -