Cloth: 978-0-226-79124-1 | Paper: 978-0-226-79125-8 | Electronic: 978-0-226-79126-5
AVAILABLE FROMUniversity of Chicago Press (paper, ebook)
Barnes & Noble Nook
ABOUT THIS BOOK
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.
TABLE OF CONTENTS
1. Performance of Operational Policy Rules in an Estimated Semiclassical Structural Model
2. Interest Rate Rules in an Estimated Sticky Price Model
3. Policy Rules for Open Economies
4. Forward-Looking Rules for Monetary Policy
5. Policy Rules for Inflation Targeting
6. Robustness of Simple Monetary Policy Rules under Model Uncertainty
7. A Historical Analysis of Monetary Policy Rules
8. What Should the Monetary Authority Do When Prices Are Sticky?
9. Rethinking the Role of NAIRU in Monetary Policy: Implications of Model Formulation and Uncertainty