% WARNING: This file may contain UTF-8 (unicode) characters. % While non-8-bit characters are officially unsupported in BibTeX, you % can use them with the biber backend of biblatex % usepackage[backend=biber]{biblatex} @techreport{NBERw11341, title = "The Simple Geometry of Transmission and Stabilization in Closed and Open Economies", author = "Giancarlo Corsetti and Paolo Pesenti", institution = "National Bureau of Economic Research", type = "Working Paper", series = "Working Paper Series", number = "11341", year = "2005", month = "May", doi = {10.3386/w11341}, URL = "http://www.nber.org/papers/w11341", abstract = {This paper provides an introduction to the recent literature on macroeconomic stabilization in closed and open economies. We present a stylized theoretical framework, and illustrate its main properties with the help of an intuitive graphical apparatus. Among the issues we discuss: optimal monetary policy and the welfare gains from macroeconomic stabilization; international transmission of real and monetary shocks and the role of exchange rate pass-through; the design of optimal exchange rate regimes and monetary coordination among interdependent economies.}, }