Recitation 7: Empirics and Theory on Monetary Policy Design
نویسنده
چکیده
Over the last couple of weeks in lectures, we have considered optimal monetary policy in the baseline model and in models with extensions. Professor Gali provided an empirical overview of monetary policy rules in di¤erent periods, for example the US experience preand post-Volcker. In the context of cost-push shocks, we discussed monetary policy with and without commitment. This recitation handout covers two papers by Clarida, Gali and Gertler (QJE 2000 and JEL 1999), and we examine the topics mentioned above in more detail.
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تاریخ انتشار 2005