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Article: The "New Keynesian" Phillips Curve: Closed Economy vs. Open Economy

TitleThe "New Keynesian" Phillips Curve: Closed Economy vs. Open Economy
Authors
Issue Date2001
PublisherElsevier BV.
Citation
Economics Letters, 2002, v. 75, p. 1-9 How to Cite?
AbstractThe paper extends Woodford's (2000) analysis of the closed economy Phillips curve to an open economy with both commodity trade and capital mobility. We show that consumption smoothing, which comes with the opening of the capital market, raises the degree of strategic complementarity among monopolistically competitive suppliers, thus rendering prices more sticky and magnifying output responses to nominal GDP shocks.
Persistent Identifierhttp://hdl.handle.net/10722/114926
ISSN
2015 Impact Factor: 0.603
2015 SCImago Journal Rankings: 0.612

 

DC FieldValueLanguage
dc.contributor.authorRazin, Aen_HK
dc.contributor.authorYuen, CWen_HK
dc.date.accessioned2010-09-26T05:22:16Z-
dc.date.available2010-09-26T05:22:16Z-
dc.date.issued2001en_HK
dc.identifier.citationEconomics Letters, 2002, v. 75, p. 1-9-
dc.identifier.issn0165-1765-
dc.identifier.urihttp://hdl.handle.net/10722/114926-
dc.description.abstractThe paper extends Woodford's (2000) analysis of the closed economy Phillips curve to an open economy with both commodity trade and capital mobility. We show that consumption smoothing, which comes with the opening of the capital market, raises the degree of strategic complementarity among monopolistically competitive suppliers, thus rendering prices more sticky and magnifying output responses to nominal GDP shocks.-
dc.languageengen_HK
dc.publisherElsevier BV.en_HK
dc.relation.ispartofEconomics Lettersen_HK
dc.titleThe "New Keynesian" Phillips Curve: Closed Economy vs. Open Economyen_HK
dc.typeArticleen_HK
dc.identifier.emailYuen, CW: cwyuen@hku.hken_HK
dc.identifier.authorityYuen, CW=rp01123en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.3386/w8313-
dc.identifier.hkuros63447en_HK

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