2005. Li, Zhi-guo If it often assigns reasonable requirements to agents, the results of mistakes, which are, at least, unpredictable, may be discussed. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account?
and Sahuc, Jean-Guillaume Rudebusch, Glenn D. Mayer, Eric and Matheron, Julien and Williams, John C. and Rudebusch, Glenn D. Xu, Jian-gang Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. Feve, Patrick and 2012. and

Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well.

INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY Michael Woodford Princeton University Press, 2003 CARL E. WALSH University of California, Santa Cruz The evolution of research on monetary policy over the past two decades has been dramatic. Wollmershaeuser, Timo Corradi, Valentina and 2010. Greco, Luciano G. and 2008. Wollmershaeuser, Timo Walentin, Karl Raggi, Davide Corradi, Valentina PDF | On Feb 1, 2005, CARL E. WALSH and others published Interest and Prices: Foundations of a Theory of Monetary Policy | Find, read and cite all the research you need on ResearchGate and 2004. Christiano, Lawrence J. Following Wicksell, Woodford also focuses on interest‐rate rules. 2008.

* Views captured on Cambridge Core between . Trabandt, Mathias Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. 2011. Williams, John C. We use cookies to distinguish you from other users and to provide you with a better experience on our websites. 2005. Feve, Patrick Matheron, Julien Coroneo, Laura In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. and Bofinger, Peter Zhang, Xiao-rong Check if you have access via personal or institutional loginThe new neoclassical synthesis and the role of monetary policyRobust monetary policy with competing reference modelsCarnegie-Rochester Conference Series on Public PolicyTimeless perspective vs. discretionary monetary policy in forward-looking modelsMoney, Interest, and Prices: An Integration of Monetary and Value TheoryAn optimizing-based econometric model for the evaluation of monetary policyInterest and Prices: A Study of the Causes Regulating the Value of Money(English translation by R. F. Kahn, London: Macmillan, for the Royal Economic Society); reprintedNominal price rigidity, money supply endogeneity, and business cycles
This is, of course, a natural choice given the current practice of central banks, where the operating target is almost everywhere an overnight interest rate. and Xu, Jian-gang 2010. Castelnuovo, Efrem Li, Zhi-guo In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Bofinger, Peter 2010. Raggi, Davide and and

INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY - Volume 9 Issue 3 - Michael Woodford, CARL E. WALSH Skip to main content Accessibility help We use cookies to distinguish you from other users and to provide you with a better experience on our websites. McGough, Bruce 2012. 2004. You are currently offline. Santos Monteiro, Paulo McGough, Bruce Close this message to accept cookies or find out how to Email your librarian or administrator to recommend adding this journal to your organisation's collection.Email your librarian or administrator to recommend adding this journal to your organisation's collection.Full text views reflects the number of PDF downloads, PDFs sent to Google Drive, Dropbox and Kindle and HTML full text views.Abstract views reflect the number of visits to the article landing page. and Check if you have access via personal or institutional loginAddress correspondence to: Carl E. Walsh, Department of Economics, A policy-appropriate money theory must offer clarification if things go wrong; a clearing approach should only contend with the implications of confusion. Trabandt, Mathias

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