Why monetary board: Monetary board and endogenic price flexibility
The paper presents a model which proves that a unilateral exchange rate fixing, i.e. monetary board, as opposed to certain opinions, is an optimal policy since it increases flexibility of nominal prices, which is the ultimate goal of a flexible exchange rate policy. A suitable calibration of the mod...
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| Format: | Article |
| Language: | English |
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Faculty of Economics, Belgrade
2004-01-01
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| Series: | Ekonomski Anali |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/0013-3264/2004/0013-32640462175B.pdf |