RDP 2007-06: The Butterfly Effect of Small Open Economies References
June 2007
- Download the Paper 247KB
Barro RJ (1981), ‘The Equilibrium Approach to Business Cycles’, in Money, Expectations, and Business Cycles, Academic Press, New York, pp 41–78.
Benhabib J, S Schmitt-Grohe and M Uribe (2001),‘Monetary Policy Rules and Multiple Equilibria’, American Economic Review, 91(1), pp 167–184.
Benigno G and P Benigno (2006), ‘Designing Targeting Rules for International Monetary Policy Cooperation’, Journal of Monetary Economics, 53(3), pp 473–506.
Benigno G, P Benigno and F Ghironi (2007), ‘Interest Rate Rules for Fixed Exchange Rate Regimes’, Journal of Economic Dynamics and Control, 31(7), pp 2196–2211.
Bernanke BS (2004), ‘The Great Moderation’, Remarks given at the meetings of the Eastern Economic Association, Washington DC, 19–22 February, available at <http://www.federalreserve.gov/boardDocs/speeches/2004/20040220/ default.htm>.
Bernanke BS and M Woodford (1997), ‘Inflation Forecasts and Monetary Policy’, NBER Working Paper No 6157.
Bullard J and A Singh (2006), ‘Worldwide Macroeconomic Stability and Monetary Policy Rules’, Federal Reserve Bank of St. Louis Working Paper No 2006–040A.
Calvo GA (1983), ‘Staggered Prices in a Utility-Maximizing Framework’, Journal of Monetary Economics, 12(3), pp 383–398.
Clarida R, J Galí and M Gertler (1999), ‘The Science of Monetary Policy: A New Keynesian Perspective’, Journal of Economic Literature, 37(4), pp 1661–1707.
Clarida R, J Galí and M Gertler (2000), ‘Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory’, The Quarterly Journal of Economics, CXV(1), pp 147–180.
Cooley TF and EC Prescott (1995), ‘Economic Growth and Business Cycles’, in TF Cooley (ed), Frontiers of Business Cycle Research, Princeton University Press, Princeton, pp 1–38.
De Fiore F and Z Liu (2000), ‘Does Trade Openness Matter for Aggregate Instability?’, Journal of Economic Dynamics and Control, 29(7), pp 1165–1192.
Farmer REA (1999), Macroeconomics of Self-Fulfilling Prophecies, MIT Press, Cambridge.
Galí J and T Monacelli (2005), ‘Monetary Policy and Exchange Rate Volatility in a Small Open Economy’, Review of Economic Studies, 72(3), pp 707–734.
Goodfriend M and RG King (1997), ‘The New Neoclassical Synthesis and the Role of Monetary Policy’, in BS Bernanke and JJ Rotemberg (eds), NBER Macroeconomics Annual 1997, MIT Press, Cambridge, pp 231–283.
Ireland P (2004), ‘Technology Shocks in the New Keynesian Model’, The Review of Economics and Statistics, 86(4), pp 923–936.
Lubik T and F Schorfheide (2003), ‘Computing Sunspot Equilibria in Linear Rational Expectations Models’, Journal of Economic Dynamics and Control, 28(2), pp 273–285.
Lubik TA and F Schorfheide (2004), ‘Testing for Indeterminacy: An Application to U.S. Monetary Policy’, American Economic Review, 94(1), pp 190–217.
Mankiw NG (2002), ‘U.S. Monetary Policy During the 1990s’, in JA Frankel and PR Orszag (eds), American Economic Policy in the 1990s, MIT Press, Cambridge, pp 19–44.
McCallum B (1983), ‘On Non-Uniqueness in Rational Expectations Models : An Attempt at Perspective’, Journal of Monetary Economics, 11(2), pp 139–168.
Pesaran MH (1987), The Limits to Rational Expectations, Basil Blackwell, Oxford.
Sargent TJ and N Wallace (1973), ‘The Stability of Models of Money and Growth with Perfect Foresight’, Econometrica, 41(6), pp 1043–1048.
Sims CA (2001), ‘Solving Linear Rational Expectations Models’, Computational Economics, 20(1–2), pp 1–20.
Stewart I (1990), Does God Play Dice? The Mathematics of Chaos, Blackwell Publishers, Cambridge.
Taylor JB (1977), ‘Conditions for Unique Solutions in Stochastic Macroeconomic Models with Rational Expectations’, Econometrica, 45(6), pp 1377–1385.
Woodford M (2003), Interest and Prices: Foundations of a Theory of Monetary Policy, Princeton University Press, Princeton.
Zanna L-F (2003), ‘Interest Rate Rules and Multiple Equilibria in the Small Open Economy’, Federal Reserve Board International Finance Discussion Paper No 785.