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Robustly optimal monetary policy with near-rational expectations
Woodford, Michael - 2005
The paper considers optimal monetary stabilization policy in a forward-looking model, when the central bank recognizes …
Persistent link: https://www.econbiz.de/10010298361
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How Important is Money in the Conduct of Monetary Policy?
Woodford, Michael - 2006
This paper was presented as the 2006 W.A. Mackintosh Lecture at Queen's University. I consider some of the leading arguments for assigning an important role to tracking the growth of monetary aggregates when making decisions about monetary policy. First, I consider whether ignoring money means...
Persistent link: https://www.econbiz.de/10011940718
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Conventional and unconventional monetary policy
Cúrdia, Vasco; Woodford, Michael - 2009
sources of (potentially time-varying) credit spreads and to allow a role for the central bank's balance sheet in determining … prescriptions and to consider additional dimensions of central bank policy - variations in the size and composition of the central … bank's balance sheet as well as payment of interest on reserves - alongside the traditional question of the proper …
Persistent link: https://www.econbiz.de/10010287020
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Credit spreads and monetary policy
Cúrdia, Vasco; Woodford, Michael - 2009
We consider the desirability of modifying a standard Taylor rule for a central bank's interest rate policy to …
Persistent link: https://www.econbiz.de/10010287064
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Credit frictions and optimal monetary policy
Cúrdia, Vasco; Woodford, Michael - 2008
We extend the basic (representative-household) New Keynesian [NK] model of the monetary transmission mechanism to allow for a spread between the interest rate available to savers and borrowers, that can vary for either exogenous or endogenous reasons. We find that the mere existence of a...
Persistent link: https://www.econbiz.de/10011506667
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Inflation forecasts and monetary policy
Bernanke, Ben; Woodford, Michael - 1997
Persistent link: https://www.econbiz.de/10000640284
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Doing without money : controlling inflation in a post-monetary world
Woodford, Michael - 1997
Persistent link: https://www.econbiz.de/10000640890
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Interest-rate rules in an estimated sticky price model
Rotemberg, Julio J.; Woodford, Michael - 1998
Persistent link: https://www.econbiz.de/10000667529
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How important is money in the conduct of monetary policy?
Woodford, Michael (contributor) - 2007
"I consider some of the leading arguments for assigning an important role to tracking the growth of monetary aggregates when making decisions about monetary policy. First, I consider whether ignoring money means returning to the conceptual framework that allowed the high inflation of the 1970s....
Persistent link: https://www.econbiz.de/10003729759
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Forecast targeting as a monetary policy strategy : policy rules in practice
Woodford, Michael (contributor) - 2007
"Forecast targeting is an innovation in central banking that represents an important step toward more rule-based policymaking, even if it is not an attempt to follow a policy rule of any of the types that have received primary attention in the theoretical literature on optimal monetary policy....
Persistent link: https://www.econbiz.de/10003729866