Monetary Policy Rules

· National Bureau of Economic Research Studies in Business Cycles Book 31 · University of Chicago Press
eBook
458
Pages
Eligible

About this eBook

This timely volume presents the latest thinking on the monetary policy rules and seeks to determine just what types of rules and policy guidelines function best. A unique cooperative research effort that allowed contributors to evaluate different policy rules using their own specific approaches, this collection presents their striking findings on the potential response of interest rates to an array of variables, including alterations in the rates of inflation, unemployment, and exchange.

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.

About the author

John B. Taylor is the Mary and Robert Raymond Professor of Economics at Stanford University and a research associate of the National Bureau of Economic Research.

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