Federal Reserve Policy Making.
نویسندگان
چکیده
منابع مشابه
Implications of Dynamic Decision Making Research on Monetary Policy Making at the Federal Reserve
Study of Dynamic Decision Making (DDM) has been devoted to understanding the behaviors of decision makers facing dynamic decision making tasks. DDM involves decision tasks embedded in complex systems, the structure of which is not fully known to the decision makers. Previous DDM research mainly took an experimental approach, attempting to explain how people make dynamic decisions and how to imp...
متن کاملLearning about Policy from Federal Reserve History
For much of the past 15 years, my assistants and I have been reading minutes and papers in the National Archives, the Board of Governors, and the New York Federal Reserve Bank. I owe a debt of appreciation to the Board’s librarians, to the achivists at the New York bank, to my several assistants, and to many at the Fed who cooperated helpfully to make this project come to completion. The result...
متن کاملRates , Inflation , and Federal Reserve Policy Since 1980
This paper characterizes Federal Reserve policy since 1980 as one that actively manages short-term nominal interest rates in order to control inflation and evaluates this policy using a dynamic, stochastic, sticky-price model of the United States economy. The results show that the Fed’s policy insulates aggregate output from the effects of exogenous demand-side disturbances and, by calling for ...
متن کاملActual Federal Reserve Policy Behavior and Interest Rate Rules
conomists attempting to approximate the policy behavior of the Federal Reserve often have done so by estimating interest rate rules for the United States. In these rules, the variable on the left-hand side is the interest rate that the Federal Reserve is assumed to control, while the variables on the right-hand side are those that are assumed to affect Federal Reserve behavior. There have been ...
متن کاملFEDERAL RESERVE BANK OF SAN FRANCISCO WORKING PAPER SERIES The Policy Preferences of the U.S. Federal Reserve
In this paper we model and explain US macroeconomic outcomes subject to the discipline that monetary policy is set optimally. Exploiting the restrictions that come from optimal policymaking, we estimate the parameters in the Federal Reserve’s policy objective function together with the parameters in its optimization constraints. For the period following Volcker’s appointment as chairman, we est...
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 1952
ISSN: 0013-0133
DOI: 10.2307/2227023