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Monetary Shocks and Real Exchange Rate Dynamics

In: Advances in Monetary Policy and Macroeconomics

Author

Listed:
  • Daniela Federici
  • Sergio Santoro

Abstract

The highly influential contribution of Obstfeld and Rogoff’s Redux model (1995) essentially initiated a new line of research that reflects the attempt to integrate nominal rigidities and imperfect competition into a dynamic general equilibrium framework within an intertemporal optimization approach. Since then, several theoretical models have been developed, extending the Obstfeld-Rogoff seminal model in order to address a number of macroeconomic issues; this new literature is commonly called ‘New Open Economy Macroeconomics’ (hereafter NOEM).1

Suggested Citation

  • Daniela Federici & Sergio Santoro, 2007. "Monetary Shocks and Real Exchange Rate Dynamics," Palgrave Macmillan Books, in: Philip Arestis & Gennaro Zezza (ed.), Advances in Monetary Policy and Macroeconomics, chapter 12, pages 212-232, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-80076-2_12
    DOI: 10.1057/9780230800762_12
    as

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