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Title: |
Non-separable Consumption-Labor Choice and the
International Transmission of Monetary Policy Shocks: A Note |
| Author: |
Pierdzioch,
Christian |
| Author
Affiliation: |
Kiel Institute
of World Econ |
| Source: |
International Economic Journal, Summer 2003, v. 17, no. 2, pp. 55-64 |
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Publication Date: |
Summer 2003 |
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Abstract: |
This paper
derives in the model developed by Obstfeld and Rogoff (1995) a steady
state that is stationary in the presence of monetary policy shocks. To
this end, the impact of monetary policy shocks on the current account is
shut off by assuming that the preferences of households exhibit a
particular non-separability between consumption and labor supply. |
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