Stabssteminar med Dr. Paolo Vitale

Institutt for foretaksøkonomi holder stabsseminar med Dr. Paolo Vitale fra London School of Economics and Political fredag 31. mai.

30.05.2002 - Per Arne Solend

Tema: Foreign Exchange Intervention: How to signal Policy Objectives and stabilise the Economy?
Tid: Fredag 31. mai, kl. 12.15-13.30
Sted: Aud. B

Abstract
Within a simple model of monetary policy for an open economy, we study how foreign exchange intervention may be used as a costly signal of the policy makers' objectives. Our analysis indicates that: i) foreign exchange intervention typically stabilises the national economy, reducing the fluctuations of employment and output; ii) this result is sensitive to the institutional structure of decision-making, in that a larger stability gain is obtained when foreign exchange intervention and monetary policy are kept under the jurisdiction of different governmental agencies.

Paper er tilgjengelig på instituttets hjemmeside,
http://www.nhh.no/for/seminars/2002-spring/310502.pdf.