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Optimal degrees of transparency in monetary policymaking

Jensen, Henrik - 2001

Den meisten Akademikern und politischen Entscheidungsträgern zufolge ist Transparenz in der Geldpolitik wünschenswert … der Zentralbank zu schließen, wodurch die laufende Inflation stärker auf stabilitätspolitische Maßnahmen reagiert. Dies … führt dazu, dass die Zentralbank sich eher auf die Inflation als auf die Stabilisierung der Produktionslücke konzentriert …

Persistent link: https://www.econbiz.de/10011419293

Chapter 15. Simple and Robust Rules for Monetary Policy

Taylor, John B.; Williams, John C. - In: Handbook of monetary economics : volume 3, (pp. 829-859). 2010

This paper focuses on simple normative rules for monetary policy that central banks can use to guide their interest rate decisions. Such rules were first derived from research on empirical monetary models with rational expectations and sticky prices built in the 1970s and 1980s. During the past...

Persistent link: https://www.econbiz.de/10014025627

The decline of activist stabilization policy

Orphanides, Athanasios; Williams, John C. - 2004

We develop an estimated model of the U.S. economy in which agents form expectations by continually updating their beliefs regarding the behavior of the economy and monetary policy. We explore the effects of policymakers' misperceptions of the natural rate of unemployment during the late 1960s...

Persistent link: https://www.econbiz.de/10009639391