读者(厦门大学王子奇博士)投稿：随机开放经济模型的新方向

首先，衷心感谢本号读者，厦门大学王子奇博士！

王博士委托本号，将自己的一份文献研究pre的slides贴出，分享给更多的经济学同行

小编手头是NBER wp版本

英文摘要

The paper develops a simple stochastic new open economy macroeconomic model based on sticky nominal wages. Explicit solution of the wage-setting problem under uncertainty allows one to analyze the effects of the monetary regime on welfare, expected output, and the expected terms of trade. Despite the potential interplay between imperfections due to sticky wages and monopoly, the optimal monetary policy rule has a closed-form solution. To motivate our model, we show that observed correlations between terms of trade and exchange rates are more consistent with our traditional assumptions about nominal rigidities than with a popular alternative based on local-currency pricing.

中文摘要(机器翻译)

本文在粘性名义工资的基础上发展了一个简单的随机新开放经济宏观经济模型。对不确定性下的工资制定问题进行显式求解，可以分析货币制度对福利、预期产出和预期贸易条件的影响。尽管粘性工资和垄断导致的不完善性之间存在潜在的相互影响，但最优货币政策规则具有一个闭式解。本文模型的动机是，表明观察到的贸易条件和汇率之间的相关性，与关于名义刚性的传统假设相比，与基于局部货币定价的流行替代方案更为一致。

现贴出 王子奇 博士的slides