Optimal monetary policy responses to relative-price changes

By Kosuke Aoki. 2001

618 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/5971a269b38d47a5ca05379fea3df0488d0927c5

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Citations in the corpus

Incomplete Pass-Through and the Welfare Effects of Exchange Rate Variability (2005, background): “The foreign economy is assumed to have a structure similar to that of the home country and foreign agents are assumed to have utility functions similar to (1).”
The Zero Bound in an Open Economy: A Foolproof Way of Escaping from a Liquidity Trap (2000, neutral): “Svensson [65] and Aoki [1] compare domestic and CPI in‡ation targeting from di¤erent points of view.”
THE TRANSMISSION OF MONETARY POLICY IN A MULTISECTOR ECONOMY (2009, neutral): “[3]”
Monetary policy and welfare in a small open economy (2009, background): “3Similar conclusions are suggested in Aoki (2001), in which a two-sector closed economy model is applied to a small open economy that produces differentiated goods whose prices are sticky and imports goods whose prices are flexible.”
Inflation targeting and optimal monetary policy (2004, background): “…of the accuracy of its projections.31 In these discussions, the Bank gives exclusive 28Leitemo (2003) discusses possible interpretations of the constant-interest-rate projection exercise that would allow it to yield a policy recommendation even in the case of a forward-looking model of the…”
Sticky Prices and Monetary Policy: Evidence from Disaggregated U.S. Data (2009, neutral): “[2] Aoki, Kosuke (2001), “Optimal Monetary Policy Responses to Relative Price Changes,” Journal of Monetary Economics 48: 55-80.”
Monetary Policy Rules in the Open Economy: Effects on Welfare and Business Cycles (2002, neutral): “…and exchange rate changes are fully and immediately passed through into import prices (ensuring that the law of one price (LOP) holds), then welfare maximizing monetary policy requires perfect stabilization of the domestic PPI (e.g., Aoki, 2001; Devereux and Engel, 2000; Gal!ı and Monacelli, 2000).”
Determinacy and Learnability of Monetary Policy Rules in Small Open Economies (2006, background): “26 as in Aoki (2001).(20) However, there is a difference between targeting CPI inflation and domestic inflation: as pointed out by GM, the implied macroeconomic volatility of the endogenous variables will be larger under the CPITR.”
Monetary and Fiscal Policy Interactions in a Micro-Founded Model of a Monetary Union (2005, methodology): “Then, given C H and C j F , the household optimally allocates spending over the individual goods by minimizing PHC j H and PFC j F under restriction (3).”
Heterogeneity in Price Stickiness and the Real Effects of Monetary Shocks (2006, methodology): “1 They find relative price effects that are qualitatively similar to the ones obtained by Aoki (2001) in a two-sector economy featuring one sticky-and one flexible-price sector, and by Benigno (2001, 2004) in a two-country model with different degrees of nominal price stickiness.”
Inflation targeting: what inflation rate to target? (2004, neutral): “This stands in contrast to the two-sector model of Aoki (2001) featuring a single source of nominal rigidity, so that fluctuations in the sectoral relative price have no allocative role, and the first-best allocation can be achieved.”
What Measure of Inflation Should a Central Bank Target? (2003, background): “(1) Sectors differ in their budget share and thus the weight their prices receive in a standard price index.”
Optimal Monetary Stabilization Policy (2010, background): “…case that the degree of price stickiness in both sectors is the same.95 In the case that prices are sticky only in one sector, and completely flexible in the other, the price-level target should be defined purely in terms of an index of prices in the sticky-price sector, as shown by Aoki (2001).”
Monetary Policy Rules for an Open Economy (2003, result): “Analogously, the distortions associated with different degrees of price stickiness in the two sectors in our model are similar to those characterised in Aoki’s (2000) two-sector closed-economy model.”
Price Setting in the Euro Area: Some Stylised Facts from Individual Producer Price Data (2012, neutral): “sectors, as is for instance done in Aoki (2001), Álvarez, Burriel and Hernando (2005) or de Walque et al.”