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.
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.
| Original language | English |
|---|---|
| Pages (from-to) | 577-591 |
| Number of pages | 15 |
| Journal | International Economic Journal |
| Volume | 21 |
| Issue number | 4 |
| Early online date | 22 Nov 2007 |
| DOIs | |
| Publication status | Published - 2007 |
Keywords
- Monetary policy
- Openness