International Monetary Coordination

Kenneth Rogoff

This 1985 Journal of International Economics paper by Kenneth Rogoff shows that increased cooperation between central banks does not automatically raise welfare, because cooperation can exacerbate …

A. Alesina · R. J. Barro

This 2002 Quarterly Journal of Economics paper by Alberto Alesina and Robert Barro builds a formal model of which countries should give up their own currency and adopt another country's, combining a …

Luca Fornaro · Federica Romei

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 …

Bernardo Morais · José-Luis Peydró · Jessica Roldán-Peña · Claudia Ruiz-Ortega

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 …

Philip R. Lane

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 …