Monetary Policy in an Interdependent World



The unifying theme of this chapter is economic interdependence among the industrialised countries and its implications for monetary policies. In Sections I to III we analyse changes in the nature of economic interdependence from the 1960s to the 1970s and offer some explanations for these changes. In doing so, we draw upon the framework of analysis developed in the previous chapters of the book. In Sections IV and V we study the transmission abroad of policy shocks originating in the United States in recent history.


Exchange Rate Monetary Policy Real Interest Rate Aggregate Demand Exchange Rate Regime 
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Copyright information

© Paul De Grauwe, Michele Fratianni and Mustapha K. Nabli 1985

Authors and Affiliations

  1. 1.Catholic University of LeuvenBelgium
  2. 2.Indiana UniversityUSA
  3. 3.University of TunisTunisia

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