International Monetary Policy Analysis with Durable Goods

dc.contributorJansen, Dennis W.
dc.creatorLee, Kang Koo
dc.date.accessioned2010-10-12T22:31:35Z
dc.date.accessioned2010-10-14T16:02:58Z
dc.date.accessioned2017-04-07T19:57:37Z
dc.date.available2010-10-12T22:31:35Z
dc.date.available2010-10-14T16:02:58Z
dc.date.available2017-04-07T19:57:37Z
dc.date.created2009-08
dc.date.issued2010-10-12
dc.description.abstractThe dissertation studies a model of an economy which produces and exports durable goods. It analyzes the optimal monetary policy for such a country. Generally, monetary policy has a bigger economic effect on durable goods relative to non-durable goods because durable goods can be stored and households get utility from the stock of durable goods. This dissertation shows that, in Nash equilibrium, the central bank of a durable goods producing country can control changes of the price level with smaller changes in the monetary policy instrument. In the cooperative equilibrium, the monetary authority of the country which imports non-durable goods and exports durable goods should raise the interest rate by more, relative to the Nash case, in response to a rise in foreign inflation. On the other hand, the monetary authority of the country which imports durable goods and exports non-durable goods should raise the interest rate by less than the other country.
dc.identifier.urihttp://hdl.handle.net/1969.1/ETD-TAMU-2009-08-7137
dc.language.isoen_US
dc.subjectInternational monetary policy
dc.subjectDurable goods
dc.titleInternational Monetary Policy Analysis with Durable Goods
dc.typeBook
dc.typeThesis

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