Price Stability in Open Economies

By Gianluca Benigno, Pierpaolo Benigno. 2003

444 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/e9c45e0c2df0aaf6bbc5d95660246ad2ad852140

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Citations in the corpus

Optimal Monetary and Fiscal Policy in a Currency Union (2005, background): “…decisions, taken in isolation, are likely to have very little impact 1See, among others, Obstfeld and Rogoff (1995), Corsetti and Pesenti (2001), Benigno and Benigno (2003), Bacchetta and van Wincoop (2000), Devereux and Engle (2003), Pappa (2003), Kollmann (2001), Chari , Kehoe and McGrattan…”
International Monetary Policy Coordination and Financial Market Integration (2002, unknown): “Home agents are indexed h ∈ [0, 1] and foreign agents are indexed f ∈ [0, 1].”
Financial Globalization and Monetary Policy (2007, background): “Benigno and Benigno (2003) show that stability of producer prices is optimal when financial markets are complete.”
Monetary policy and welfare in a small open economy (2009, methodology): “…supply depends on the relative size of these two distortions.1 In a stochastic two-country environment, the terms of trade externality has also been shown to play a crucial role in the welfare and policy evaluation (see, for example, Corsetti and Pesenti (2005) and Benigno and Benigno (2003)).”
Monetary Policy in a Low Pass-Through Environment (2005, unknown): “…analysis of monetary policy is often still confined to inspecting the effects of money supply shocks.1 The goal of a realistic representation of the practice of monetary policy in open economies has motivated the work of Benigno and Benigno (2003), Galı́ and Monacelli (2005), McCallum and Nelson 1.”
Do the ECB and the Fed really need to cooperate? Optimal monetary policy in a two-country world (2004, methodology): “I use a theoretical framework which encompasses the models of Corsetti and Pesenti (2001a, b); Obstfeld and Rogoff (2000) and Benigno and Benigno (2004) as specific cases.”
A Simple Second-Order Solution Method For Dynamic General Equilibrium Models (2002, background): “¶# ( 1 ) where C is a consumption index, M denotes nominal money holdings, P is the aggregate price level, y (j) is the output of good j and K is a stochastic shock.”
Price Stability with Imperfect Financial Integration (2001, unknown): “In fact, combining equations (5) and (8), it can be shown that”
Solving for Country Portfolios in Open Economy Macro Models (2007, methodology): “The method can also be very easily applied to sticky price open economy models of the type developed by, for instance, Obstfeld and Rogoff (1995), Benigno and Benigno (2003), Devereux and Engel (2003) and Corsetti and Pesenti (2005). Devereux and Sutherland (2006a) show how the solution method can b”
An Optimum-Currency-Area Odyssey (2009, background): “…flexible exchange rate systems tend to produce better results in terms of welfare than regimes that severely restrict exchange rate fluctuations (Stockman and Ohanian, 1997; Benigno and Benigno, 2003; Obstfeld and Rogoff, 2000; Kollmann, 2002; Pappa, 2004; Canzoneri, Cumby, and Diba, 2005;).”
COUNTRY PORTFOLIOS IN OPEN ECONOMY MACRO‐MODELS (2011, methodology): “…income of home agents expressed 17Our method can therefore easily be applied to the sticky-price models commonly employed in the open economy macro literature, e.g. as developed in Obstfeld and Rogoff (1995), Devereux and Engel (2003), Corsetti and Pesenti (2005) and Benigno and Benigno (2003).”
Optimal Monetary Policy in a Small Open Economy with Home Bias (2008, background): “Other contributions (such as Corsetti and Pesenti (2001), Sutherland (2002) and Benigno and Benigno (2003)) have shown that this terms of trade motive for optimal markup variability depends on the underlying speci cation of the utility function (e.g., it vanishes in the case of unitary…”