In a multicountry model with nominal wage rigidities, two sectors (tradable with convex supply, nontradable with flat supply), and free capital mobility, the paper studies optimal monetary policy …
PublishedClassicThe Journal of FinanceOnline 25 Jan 2019Published Feb 2019
Using the universe of business loans in Mexico matched to firm and bank balance sheets, this paper shows that each foreign monetary policy moves local credit supply mainly through banks headquartered …
PublishedClassicJournal of International EconomicsPublished Aug 2001
An interim survey of the dynamic general equilibrium open-economy literature that grew out of Obstfeld and Rogoff's 1995 Redux model, organised around the question of which of its assumptions its …