分享论文
A simple framework for international monetary policy analysis (Journal of Monetary Economics , Richard Clarida, Jordi Galí, Mark Gertler , 2002)
分享人
王忏（金融学院，副教授）
时间
2025年3月6日（周四），19:00-21：00
地点
学术会堂712
主持人
王忏（金融学院），赵军柱（304am永利集团官网中国经济与管理研究院）
论文摘要
We study the international monetary policy design problem within an optimizing two-country sticky price model, where each country faces a short run tradeoff between output and inflation. The model is sufficiently tractable to solve analytically. We find that in the Nash equilibrium, the policy problem for each central bank is isomorphic to the one it would face if it were a closed economy. Gains from cooperation arise, however, that stem from the impact of foreign economic activity on the domestic marginal cost of production. While under Nash central banks need only adjust the interest rate in response to domestic inflation, under cooperation they should respond to foreign inflation as well. In either scenario, flexible exchange rates are desirable.
活动对象
304am永利集团官网、金融学院员工
人数规模
30人
主办单位
304am永利集团官网中国经济与管理研究院、金融学院联合主办
撰稿：李佳鑫
审稿：赵军柱
编辑：沈嘉怡
审核：王颖
