Policy Rules as a Means to a More Effective Monetary Policy
Author: John B. Taylor
Publisher:
Published: 1996
Total Pages: 24
ISBN-13:
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Author: John B. Taylor
Publisher:
Published: 1996
Total Pages: 24
ISBN-13:
DOWNLOAD EBOOKAuthor: John B. Taylor
Publisher: University of Chicago Press
Published: 2007-12-01
Total Pages: 460
ISBN-13: 0226791262
DOWNLOAD EBOOKThis timely volume presents the latest thinking on the monetary policy rules and seeks to determine just what types of rules and policy guidelines function best. A unique cooperative research effort that allowed contributors to evaluate different policy rules using their own specific approaches, this collection presents their striking findings on the potential response of interest rates to an array of variables, including alterations in the rates of inflation, unemployment, and exchange. Monetary Policy Rules illustrates that simple policy rules are more robust and more efficient than complex rules with multiple variables. A state-of-the-art appraisal of the fundamental issues facing the Federal Reserve Board and other central banks, Monetary Policy Rules is essential reading for economic analysts and policymakers alike.
Author: Albert Ando
Publisher:
Published: 1985
Total Pages: 0
ISBN-13:
DOWNLOAD EBOOKAuthor: John B. Taylor
Publisher:
Published: 1996
Total Pages: 14
ISBN-13:
DOWNLOAD EBOOKAuthor: Board of Governors of the Federal Reserve System
Publisher:
Published: 2002
Total Pages: 0
ISBN-13: 9780894991967
DOWNLOAD EBOOKProvides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 1998-03-01
Total Pages: 33
ISBN-13: 1451844239
DOWNLOAD EBOOKRecently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 1988-10-04
Total Pages: 28
ISBN-13: 1451952570
DOWNLOAD EBOOKThe paper considers the merits of rules and discretion for monetary policy when the structure of the macroeconomic model and the probability distributions of disturbances are not well defined. It is argued that when it is costly to delay policy reactions to seldom-experienced shocks until formal algorithmic learning has been accomplished, and when time consistency problems are significant, a mixed strategy that combines a simple verifiable rule with discretion is attractive. The paper also discusses mechanisms for mitigating credibility problems and emphasizes that arguments against various types of simple rules lose their force under a mixed strategy.
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2015-10-23
Total Pages: 74
ISBN-13: 1498344062
DOWNLOAD EBOOKOver the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Author: Jane Dokko
Publisher:
Published: 2009
Total Pages: 76
ISBN-13:
DOWNLOAD EBOOKAuthor: Allan H. Meltzer
Publisher:
Published: 1996
Total Pages: 42
ISBN-13:
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