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) -- Summary of the Scientific Symposium “The Theory and Practice of Monetary Policy Today” -- The Theory and Practice of Monetary … Policy Today - Successes, Failures and Open Questions -- The Theory and Practice of Monetary Policy Today - Successes …This book presents important aspects of the New-Keynesian theory of monetary policy and its implications for the …
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Recent evaluations of the fiscal stimulus packages recently enacted in the United States and Europe such as Cogan, Cwik, Taylor and Wieland (2009) and Cwik and Wieland (2009) suggest that the GDP effects will be modest due to crowding-out of private consumption and investment. Corsetti, Meier...
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Recently there has been an explosion of research on whether the equilibrium real interest rate has declined, an issue with significant implications for monetary policy. A common finding is that the rate has declined. In this paper we provide evidence that contradicts this finding. We show that...
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