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Macroeconomic policy under a managed float: a simple integrated framework

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by Pierre-Richard Agénor and Luiz Awazu Pereira da SilvaThis paper presents a simple integrated macroeconomic model of a small, bank-dependent open economy with a managed float and financial frictions.

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by Pierre-Richard Agénor and Luiz Awazu Pereira da Silva
This paper presents a simple integrated macroeconomic model of a small, bank-dependent open economy with a managed float and financial frictions.
International Settlement
The Bank for International Settlements (BIS) is an international company limited by shares owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.

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