2013 Fiscal Year Final Research Report
On the optimal monetary policy cooperation in an open economy with unemployment
| Project/Area Number |
23730199
|
|---|
| Research Category |
Grant-in-Aid for Young Scientists (B)
|
| Allocation Type | Multi-year Fund |
|---|
| Research Field |
Economic theory
|
|---|
| Research Institution | Ritsumeikan University |
|---|
Principal Investigator |
|
|---|
| Project Period (FY) |
2011 – 2012
|
| Keywords | 金融政策 / 政策協調 |
|---|
| Research Abstract |
I construct a two-country monetary model with unemployment and investigate the effect of expansionary monetary policy of one country on the other country. I show that as long as the monetary expansion is moderate, the policy increases employment and output and improves social welfare of both countries.
|
