المستودع الأكاديمي جامعة المدينة

On the Hump-Shaped Output Effect of Monetary Policy in an Open Economy

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dc.creator Pierdzioch, Christian
dc.creator Yener, Serkan
dc.date 2004
dc.date.accessioned 2013-10-16T06:56:38Z
dc.date.available 2013-10-16T06:56:38Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/17764
dc.identifier ppn:389161829
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/17764
dc.description Results of empirical research have revealed a characteristic hump-shaped effect of monetary policy shocks on output: the effect builds to a peak after several months and then gradually dies out. We analyze, in the context of a "new open economy macroeconomics" model, factors that imply a hump- shaped effect of a monetary policy shock on output. We find that a hump- shaped effect of output is likely to result if the model features a "catching up with the Joneses" effect, pricing-to-market behavior of firms, and imperfect international financial market integration.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Kieler Arbeitspapiere 1214
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject F31
dc.subject F32
dc.subject F41
dc.subject ddc:330
dc.subject Monetary policy
dc.subject Catching up with the Joneses
dc.subject Pricing-to-market
dc.subject International financial markets
dc.subject Geldpolitik
dc.subject Schock
dc.subject Gesamtwirtschaftliche Produktion
dc.subject Neue Makroökonomik offener Volkswirtschaften
dc.subject Theorie
dc.title On the Hump-Shaped Output Effect of Monetary Policy in an Open Economy
dc.type doc-type:workingPaper


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