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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Dettagli Bibliografici
Autore principale: Kolasa, Marcin
Altri autori: Ravgotra, Sahil, Zabczyk, Pawel.
Natura: Periodico
Lingua:English
Pubblicazione: Washington, D.C. : International Monetary Fund, 2022.
Serie:IMF Working Papers; Working Paper ; No. 2022/112
Soggetti:
Accesso online:Full text available on IMF

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