Financial Market Integration, Costs of Adjusting Hours Worked and Monetary Policy

• Tipo: Artigo em Revista Científica Internacional
• Data: 2010

Autores

Cenesiz, MA (Autor) FEP; Pierdzioch, C (Autor) Outra

Revista

Título: Economic Notes

Vol. 39

Páginas: 1-25

ISSN: 0391-5026

Editora: Wiley-Blackwell

Indexação

Scopus - 1 Citação

Outras Informações

ID Authenticus: P-007-W36

DOI: 10.1111/j.1468-0300.2009.00219.x

Abstract (EN): Based on a dynamic stochastic general equilibrium model featuring a labour-market friction in the form of costs of adjusting hours, we analyse how financial market integration affects the propagation of monetary policy in an open economy. The main result of our analysis is that costs of adjusting hours worked substantially dampen the increase in the effect of monetary policy on output and hours worked brought about by financial market integration. © 2010 The Authors Economic Notes © 2010 Banca Monte dei Paschi di Siena SpA.

Idioma: Inglês

Tipo (Avaliação Docente): Científica