Optimal monetary policy in a small open economy: The case of Korea

被引：8

作者：

Chung, Jaesik ^{[1
]}

Jung, Yongseung ^{[2
]}

Yang, Doo Yong ^{[3
]}

机构：

[1] Sogang Univ, Seoul, South Korea

[2] Kyung Hee Univ, Seoul 130701, South Korea

[3] Korea Inst Int Econ Policy, Sejong, South Korea

来源：

JOURNAL OF ASIAN ECONOMICS | 2007年 / 18卷 / 01期

关键词：

Korea; Monetary policy; Small open economy; Taylor rule; Welfare;

D O I：

10.1016/j.asieco.2006.12.005

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this paper, we set up a new Keynesian model with imperfect pass-through effect to explore the effect of monetary policy in Korea. Key parameter values are estimated with Kalman filtering and a maximum likelihood estimation method. In our model, inflation-targeting rule still dominates alternative monetary rules in welfare dimension. (C) 2007 Elsevier Inc. All rights reserved.

引用

页码：125 / 143

页数：19

共 50 条

[1] Optimal monetary policy for a small open economy
Divino, Jose Angelo
[J]. ECONOMIC MODELLING, 2009, 26 (02) : 352 - 358
[2] Implementable Optimal Monetary Policy in a Small Open Economy
Jung, Yongseung
[J]. JOURNAL OF EAST ASIAN ECONOMIC INTEGRATION, 2008, 12 (02): : 153 - 182
[3] Inventories and optimal monetary policy in a small open economy
Teo, Wing Leong
[J]. JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 2011, 30 (08) : 1719 - 1748
[4] Alternative Monetary Policy Rules in a Small Open Economy with Financial Frictions: The Case of Korea
Jung, Yongseung
[J]. JOURNAL OF EAST ASIAN ECONOMIC INTEGRATION, 2011, 15 (03): : 85 - 127
[5] Monetary policy in a small open economy: The case of Malaysia
Umezaki, So
[J]. DEVELOPING ECONOMIES, 2007, 45 (04): : 437 - 464
[6] Optimal monetary policy in a small open economy with home bias
Faia, Ester
Monacelli, Tommaso
[J]. JOURNAL OF MONEY CREDIT AND BANKING, 2008, 40 (04) : 721 - 750
[7] The optimal choice of monetary policy instruments in a small open economy
Singh, Rajesh
Subramanian, Chetan
[J]. CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE, 2008, 41 (01): : 105 - 137
[8] Optimal Monetary Policy and Social Insurance in a Small Open Economy
Lama, Ruy
Medina, Juan Pablo
[J]. B E JOURNAL OF MACROECONOMICS, 2011, 11 (01):
[9] Real wage rigidities and optimal monetary policy in a small open economy
Rhee, Hyuk Jae
Song, Jeongseok
[J]. JOURNAL OF MACROECONOMICS, 2013, 37 : 110 - 127
[10] Delegating Optimal Monetary Policy Inertia in a Small-Open Economy
Ida, Daisuke
Okano, Mitsuhiro
[J]. B E JOURNAL OF MACROECONOMICS, 2021, 21 (02): : 473 - 507

← 1 2 3 4 5 →