Evaluating Monetary Policy
نویسندگان
چکیده
منابع مشابه
An Encompassing Framework for Evaluating Simple Monetary Policy Rules:
Taylor and others have argued that model stability requires interest rate policy rules have an inflation feedback parameter greater than one. In this paper we build an encompassing framework to analyse the stability conditions of various policy rules on Taylor’s model and in a world where there are nominal rigidities in the short-term evolution of demand. We conclude that with a combined nomina...
متن کاملEvaluating DSGE Models for Monetary and Fiscal Policy Analysis
This paper evaluates the suitability of current DSGE models for monetary policy analysis from a Bayesian perspective, recognizing that these models may be useful even if they are misspecified along some dimensions, using the framework laid out in Faust and Gupta (2009). The paper argues that practical monetary policy analysis deals with determining how intended policy should be revised in light...
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...
متن کاملMonetary Policy and Learning
Federal Reserve Bank of Atlanta E C O N O M I C R E V I E W Third Quarter 2003 I t is a great pleasure to attend this conference on monetary policy and learning and enjoy the many excellent papers presented here. I am very grateful for the opportunity to speak to this distinguished audience of researchers and policymakers, and I hope my remarks will stimulate some further discussion. I will tal...
متن کاملFederal Monetary Policy
What is the optimal institutional structure for an independent central bank? The paper shows when it will be optimal for a country to have a central bank to be organized according to federal, purely national or a combination of both aspects. The analysis is then extended to a supranational monetary union and it is shown which organizational structure of a common central bank is optimal for part...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2009
ISSN: 1556-5068
DOI: 10.2139/ssrn.1551242