Openness and the effectiveness of monetary policy: a cross-country analysis

Date
2007
Advisor
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Source Title
International Economic Journal
Print ISSN
1016-8737
Electronic ISSN
1743-517X
Publisher
Routledge
Volume
21
Issue
4
Pages
577 - 591
Language
English
Type
Article
Journal Title
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Abstract

This paper evaluates the relationship between a country's openness to trade and the effectiveness of monetary policy in changing output growth and inflation in 29 different countries. Using quarterly data from the 1957–2003 period, empirical estimates based on individual country specifications show that the direction, significance and nature of the relationship between openness and the effectiveness of monetary policy on output growth as well as inflation vary considerably across countries.

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Book Title
Keywords
Openness, Monetary policy
Citation
Published Version (Please cite this version)