E-mail alert  |  Contact  
Search:       Go  
Background  |   Sponsoring institutions  |   Editorial board   |   Advisory board   |   Associate editors
Call for papers  |   Submission guidelines  |   Editorial process
Current issue  |   Past issues  |  
February 2017 issue
List of authors
 
Aramonte, Rosen, Schindler
Eijffinger, Mahieu, Raes
Bluedorn, Bowdler, Koch
Takahashi
Pekarski
Ehrmann, Pfaifar, Santoro
Karaca, Tugan
Boeckx, Dossche, Peersman
IJCB Home   Read the journal   Past issue
Past issues
2017
 
September
June
March
February
2016
 
December
September
June
March
2015
 
December
September
June
March
January
2014
 
December
September
June
March
2013
 
December
September
June
March
January
2012
 
December
September
June
March
January
2011
 
December
September
June
March
2010
 
December
September
June
March
2009
 
December
September
June
March
2008
 
December
September
June
March
2007
 
December
September
June
March
2006
 
December
September
June
March
2005
 
December
September
May

Aggregate Dynamics after a Shock to Monetary Policy in Developing Countries

by Emek Karacaa and Mustafa Tuganb

Abstract

This paper investigates the effects from a shock to monetary policy in developing economies under an inflationtargeting regime. We find that price adjustment is fast in these economies, causing the monetary policy shock to have less persistent effects on output compared with those in advanced economies. We show that a small open-economy model featuring staggered wage setting with incomplete financial markets is largely able to explain our findings.

JEL Codes: E23, E31, E52.

 
Full article (PDF, 36 pages, 357 kb)

Online Appendix


a Johns Hopkins University
b Social Sciences University of Ankara