Competition Policy in an Open Economy

Identifying the adopted Monetary Policy Rule by the Central Bank of Iran

It is obvious that an optimal policy should consider main dimensions of the phenomenon that can affect the transmission mechanism of that policy. In an open economy, it is expected that variables of the foreign sector play important role in its economic behavior. Therefore, it needs that any optimal policy in an open economy to design in such a way which involves changes in the foreign sector. ...

Money Growth Rules in an Emerging Small Open Economy with an informal sector

This paper is concerned with the saddle-path stability of monetary growth rules in a two-country two-sector dynamic stochastic general equilibrium model. Alongside standard features of emerging economies, such as a combination of producer and local currency pricing for exports, fiscal dominance and oil exports, this model also incorporates informal labour and production sectors and examines how...

Seminar Paper 98-06 Competition Policy in an Open Economy

Competition Policy in Open Economies

What is the e®ect of national antitrust policies in a world with international trade? Traditionally, economic analysis of mergers has assumed a closed economy, which as we show in this paper, may lead to errant policy in an open economy. We use a very simple model to highlight some key issues in optimal competition policy when trade is important, and compare the nationally optimal number of ̄rm...

New Open Economy Macroeconomics

Starting in the early 1990s, the New Open Economy Macroeconomics refers to a vast body of literature embracing a new theoretical framework for policy analysis in open economy, with the goal of overcoming the limitations of the Mundell-Fleming model, while preserving the empirical wisdom and policy friendliness of traditional analysis. Building general equilibrium models with imperfect competiti...