The New Open Economy Macroeconomics of Exchange Rate Pass...
Swonke, Christoph
Recent developments in international economics have resulted in a research agenda labelled as the «New Open Economy Macroeconomics» (NOEM). This book provides a description of the baseline model and discusses open questions in the literature. Two price setting assumptions can be distinguished, the producer currency price setting and the local currency price setting with crucial difference according to the transmission process. The study examin...