Transparent US monetary policy: theory and tests
نویسندگان
چکیده
منابع مشابه
Monetary Theory and Policy, Third Edition
The MIT Press Cambridge Massachusetts 6 2010 Massachusetts Institute of Technology All rights reserved. No part of this book may be reproduced in any form by any electronic or mechanical means (including photocopying, recording, or information storage and retrieval) without permission in writing from the publisher. For information about special quantity discounts, please email hspecial_sales@mi...
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The Federal Reserve and the European Central Bank aggressively lowered interest rates during the recent crisis. Both actions were at odds with an anti-inflationary policy stance: in August 2007, inflation expectations were high, particularly in the United States. To explain these actions, we model an economy with a leveraged and regulated financial sector. We find optional Taylor rules using si...
متن کاملChapter 10 : Financial Markets and Monetary Policy ( Monetary Theory and Policy , 3 rd ed . )
Central banks in the major industrialized economies implement policy by intervening in the money market to achieve a target level for a short-term interest rate.1 Why central banks use a short-term interest rate as a policy instrument, and how they achieve the targeted value they set for this rate are topics to be discussed in chapter 11. The focus in this chapter is on the role of nancial mar...
متن کاملMonetary Aggregates and Monetary Policy
This is a special conference for the Federal Reserve Bank of Boston, and for me personally. The role of monetary aggregates in monetary policy was intensely controversial when I joined the staff of the Board of Governors in May 1969. I was immediately asked to join the staff of the newly formed FOMC Committee on the Directive. Governor Sherman Maisel chaired that committee; the other two member...
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ژورنال
عنوان ژورنال: Applied Economics
سال: 2012
ISSN: 0003-6846,1466-4283
DOI: 10.1080/00036846.2010.524628