Imperfect knowledge and monetary policy /

"Based on lectures given as part of The Stone Lectures in Economics, this book discusses the problem of formulating monetary policy in practice, under the uncertain circumstances which characterize the real world. The first lecture highlights the limitations of decision rules suggested by the a...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Otros Autores: Issing, Otmar
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Cambridge, UK ; New York : Cambridge University Press, 2005.
Colección:Stone lectures in economics.
Temas:
Monetary policy.
Politique monétaire.
BUSINESS & ECONOMICS > Money & Monetary Policy.
Geldtheorie
Unvollkommene Information
Geldpolitik
Unsicherheit
Monetaire politiek.
Onzekerheid.
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Lecture 1. Monetary policy in uncharted territory
  • 1.1. Introduction
  • 1.2. Uncharted territory : unique historical events
  • 1.3. Achieving price stability
  • 1.4. Avoiding excess volatility in inflation, output, and the interest rate
  • 1.5. Pragmatic monetarism : the Bundesbank
  • 1.6. A stability-oriented strategy : the ECB
  • 1.7. Conclusions
  • Lecture 2. Imperfect knowledge, learning, and conservation
  • 2.1. Introduction
  • 2.2. Time inconsistency, cost-push shocks and Rogoff's conservatism
  • 2.3. Empirical output gap uncertainty
  • 2.4. Output gap uncertainty, learning, and conservatism
  • 2.5. Different degrees of central bank knowledge and information
  • 2.6. Conclusions.

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