Price Stability with Imperfect Financial Integration

By Pierpaolo Benigno, Guido Carli. 2001

455 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/3fdf1047efaa5d82bc6dd730e1dca3e74de1cde2

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Citations in the corpus

Inflation Persistence and Optimal Monetary Policy in the Euro Area (2002, background): “(8) In the optimal plan monetary policymakers are committed to maximize the welfare function (2) under the constraints given by the structural equations (6), (7) and (8).”
Monetary Policy Rules in the Open Economy: Effects on Welfare and Business Cycles (2002, unknown): “…to which the nominal interest rate is set as a function of the inflation rate and of GDP. 1See, for example, Bacchetta and van Wincoop (2000), Benigno (2000, 2001), Clarida et al. (2001), Corsetti and Pesenti (2001), Devereux and Engel (2000), Gal!ı and Monacelli (2000), Obstfeld and Rogoff…”
Monetary policy and uncertainty in an empirical small open-economy model (2010, methodology): “Following Benigno (2001), Kollmann (2002) and Schmitt-Grohe and Uribe (2003), the function t ( ) is interpretable as a debt elastic interest rate premium given by t = exp h At + ~ t i”
Financial Globalization and Exchange Rates (2004, background): “However, two important recent exceptions are provided by Benigno (2001) and Tille (2004).”
International Trade and Macroeconomic Dynamics with Heterogeneous Firms (2005, unknown): “[11] Benigno, P.”
Do the ECB and the Fed really need to cooperate? Optimal monetary policy in a two-country world (2004, background): “(2002) and Benigno and Benigno (2004) are more recent efforts.”
Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model (2005, background): “Recently, Benigno and Woodford (2005), using a different numerical technique, replicate this finding.”
A Simple Second-Order Solution Method For Dynamic General Equilibrium Models (2002, background): “Benigno and Benigno (2001) show that, under some further restrictive assumptions, it is possible to derive some results regarding optimal policy for individual countries when acting as Nash players in a non-cooperative policy game.”
Modern Forecasting Models in Action: Improving Macroeconomic Analyses at Central Banks (2012, background): “Following Benigno ( 2001 ), we assume that there is a premium on the foreign bond holdings which depends on the aggregate net foreign asset position of the domestic households.”
A Microfounded Sectoral Model for Open Economies (2007, background): “(1 + r∗t,t+1), (60) where the factor of proportionality zt+1(.) is a function which, according to Benigno (2001), depends on the real holdings of the corresponding domestic consumer i’s foreign assets; this means that domestic households take this function as given when deciding on the optimal…”
Bayesian Estimation of an Open Economy DSGE Model with Incomplete Pass-Through (2007, unknown): “Bouakez (2004) has shown that a model with time-varying markups, which are decreasing in the relative price of goods, can replicate the properties of the real exchange rate, in contrast to standard sticky price models in which the fluctuations in the real exchange rate do not generally last beyond t”
Exchange Rates and Monetary Policy in Emerging Market Economies (2004, unknown): “(4) The household optimum can be characterised by the following conditions: 1 1 + i∗t+1 [ 1− ψDPt St (Dt+1 − D̄) ] = βEt [ C t Pt C t+1Pt+1 St+1 St ] (5)”