How Should Central Banks Respond to Commodity Price Shocks? Optimal Monetary and Exchange Rate Frameworks for Commodity-Exposed Economies
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We show that the optimal monetary policy and exchange rate framework depend critically on the economys commodity exposure. We develop a flexible but tractable model economy with commodity exports and imports, in which international financial conditions may vary with the commodity cycle, and we
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美国国家经济研究局创建时间:
2026-05-01



