Monetary Policy and Exchange Rate Dynamics in a Behavioral Open Economy Model /

We develop an extension of the open economy New Keynesian model in which agents are boundedly rational a la Gabaix (2020). Our setup nests rational expectations (RE) as a special case and it can successfully mitigate many "puzzling" aspects of the relationship between exchange rates and in...

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Detalhes bibliográficos
Autor principal: Kolasa, Marcin
Outros Autores: Ravgotra, Sahil, Zabczyk, Pawel.
Formato: Periódico
Idioma:English
Publicado em: Washington, D.C. : International Monetary Fund, 2022.
coleção:IMF Working Papers; Working Paper ; No. 2022/112
Assuntos:
Acesso em linha:Full text available on IMF