See attached for easier reading: The research paper should be 20 pages long. It should be written by a group of two students or individually. In the research paper, students should demonstrate that they are able to conduct individual research and present empirical findings on a major monetary topic, incorporating both economic and empirical evidence. They should be able to argue a point logically and support their argument with appropriate theory and empirical evidence, whether in written or oral discussions. Finally, they should be able to critically debate current international monetary events and readings from the economic literature, mainly from academic economic journals. My topic is: Monetary Policy in an Open Economy Some references to get you started: Shambaugh, Jay C., “The Effect of Fixed Exchange Rates on Monetary Policy, Quarterly Journal of Economics, February 2004, 301-352. Engel, Charles, “Currency Misalignments and Optimal Monetary Policy, American Economic Review, Octo
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