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3 edition of Monetary policy in an uncertain economy found in the catalog.

Monetary policy in an uncertain economy

Feldstein, Martin S.

Monetary policy in an uncertain economy

by Feldstein, Martin S.

  • 371 Want to read
  • 12 Currently reading

Published by National Bureau of Economic Research in Cambridge, Mass .
Written in English

    Subjects:
  • Monetary policy

  • Edition Notes

    StatementMartin Feldstein.
    SeriesNBER working paper series -- no. 9969., Working paper series (National Bureau of Economic Research) -- working paper no. 9969.
    ContributionsNational Bureau of Economic Research.
    The Physical Object
    Pagination10 p. ;
    Number of Pages10
    ID Numbers
    Open LibraryOL17616673M
    OCLC/WorldCa53280298

      In his masterpiece of a new book, Gold: The Monetary Polaris, monetary thinker non-pareil Nathan Lewis explains in brilliant fashion the certain wonders of Author: John Tamny. friction on monetary policy. I obtain three sets of results. First, I show that, under uncertain economic state and learning, macroeconomic variables follow similar paths with those generated by standard New Keynesian models, if the shocks that hit the economy can be observed, such as government spending shock and monetary policy Size: KB.

    A well-designed monetary policy can help the economy respond efficiently to economic disturbances by limiting the deviation of economic activity from its potential while keeping inflation close to its desired rate. Get this from a library! Monetary Policy in an Uncertain Environment. [Martin Feldstein; National Bureau of Economic Research.;] -- This paper discusses the nature of the uncertainty faced by central banks and considers three approaches to dealing with uncertainty(1) formal optimization models and robust rules based on such.

      How has monetary policy helped in nurturing a sluggish recovery? What expectations should the public have for the role of monetary policy in . The Outlook, Uncertainty, and Monetary Policy. For more than a century, the Economic Club of New York has served as one of the nation's leading nonpartisan forums for discussion of economic policy issues. It is an honor to appear before you today to speak about the Federal Reserve's pursuit of maximum employment and price stability.


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Monetary policy in an uncertain economy by Feldstein, Martin S. Download PDF EPUB FB2

Monetary Policy in an Uncertain World and millions of other books are available for Amazon Kindle. Enter your mobile number or email address below and we'll send you a link to download the free Kindle App.

Then you can start reading Kindle books on your smartphone, tablet, or computer - 5/5(1). One of the most difficult challenges facing central banks is how to conduct monetary policy in an uncertain economic environment.

This challenge is magnified when ongoing changes in the structure of the economy make economic models and forecasts less : Federal Reserve Bank of Kansas City. Monetary Policy in an Uncertain World: Ten Years After the Crisis. This book brings together leading scholars and Monetary policy in an uncertain economy book policymakers to draw lessons from the decade of unconventional monetary policies relied upon to stimulate the global economy in the aftermath of the financial crisis.4/5(1).

balance of risks surrounding some the difficult issues faced by the Monetary Policy Committee (MPC) as it assesses the likely path of the economy and inflation over the.

Monetary Policy in an Uncertain World Ten Years after the Crisis By James A. Dorn Ten years after the financial crisis we are again facing the possibility of economic turmoil as the Fed and.

T T Mboweni: Monetary policy decision making in an uncertain international economic environment Address by Mr T T Mboweni, Governor of the South African Reserve Bank, at a business breakfast organised by the Graduate School of Business, University of Kwazulu-Natal, Durban, 2 November * * * Honoured guests Ladies and Gentlemen 1.

Monetary policy in an uncertain economy - speech by Ian McCafferty Speech given at the Institute of Directors breakfast, Liverpool Published on 10 December Monetary Policy under Uncertainty. Bill Poole's career in the Federal Reserve System spans two decades separated by a quarter of a century.

From to Bill was an economist on the staff of the Board's Division of Research and Statistics. They present the basic models and approaches to understanding banking, finance and monetary management in both closed and open economies and some of the pressing policy concerns. Readers are provided with a more knowledgeable base on which to evaluate financial market performance and global financial instability issues.

Summary - I. • Monetary stability is the first objective of the Bank. • Reliable statistical data are essential in the decision making process. • Monetary policy decision work in an uncertain environment. • Mlidii“bl”Monetary policy decisions are “repeatable games”. “Monetary Policy with Uncertain Parameters.” Journal of Economics (1), pp.

Opinions expressed in FRBSF Economic Letter do not necessarily reflect the views of the management of the Federal Reserve Bank of San Francisco or of the Board of Governors of the Federal Reserve System. Get this from a library. Monetary policy in an uncertain economy.

[Martin S Feldstein; National Bureau of Economic Research.]. of monetary policy to change inflation. Alan Meltzer’s monumental new book (Meltzer, ) contains an impressive chronology of such false verities. A list of just some of the uncertainties faced by the Federal Reserve today shows the kinds of uncertainties that are always present.

Consider for example some of the uncertaintiesCited by: Stefan Ingves: Monetary policy in an uncertain economic policy landscape Speech by Mr Stefan Ingves, Governor of the Sveriges Riksbank and Chairman of the Basel Committee on Banking Supervision, at the West Sweden Chamber of Commerce, Göteborg, 14 October * * *.

Downloadable. In this article, Charles Bean, Bank of England Chief Economist and member of the Monetary Policy Committee, reviews and assesses the three types of uncertainty which affect monetary policymakers: uncertainty about the data; uncertainty about the nature and persistence of shocks; and uncertainty about the structure of the economy.

MONETARY POLICY RULES IN AN UNCERTAIN ENVIRONMENT31 BANK OF CANADA REVIEW SPRING to the central bank’s measure of the output gap, the infl uence of the noise can be reduced.

The bottom panel of Table 1 presents an optimized rule that accounts for the presence of measurement errors in the output gap. Published: Martin Feldstein, " Monetary policy in an uncertain environment, " Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages citation courtesy of.

This book brings together leading scholars and former policymakers to draw lessons from the decade of unconventional monetary policies relied upon to stimulate the global economy in the aftermath of the financial crisis.

The articles included in this book combine historical perspectives and forward-looking views of the Fed's exit strategy and monetary normalization, along with the arguments for a rules. Fiscal policy can promote macroeconomic stability by sustaining aggregate demand and private sector incomes during an economic downturn and by moderating economic activity during periods of strong growth.

An important stabilising function of fiscal policy operates through the so-called “automatic fiscal stabilisers”. These work through the. Collected in this volume are their original contributions: eight essays that cover monetary policy in an uncertain world, domestic and international aspects of monetary policy, and policies to overcome stagflation.

In particular, they recognize and provide a lively forum for the different views of academic and central bank economists. Monetary Policy, Inflation, monetary theory, with a variety of models being used. On the other hand, the found here, which may facilitate its use as a textbook in an introductory graduate course.

In addition, this book includes a chapter on open economy extensions of the basic New Keynesian model, a topic not covered in Woodford’s book.monetary policy, central banks operate under a large degree of uncertainty. Much recent research has shown that ignoring this uncertainty can create problems.

We will first discuss the prob-lems that data uncertainty poses for designing monetary policy. a strong conclusion from the literature on data 3 For a discussion of the problems the zero lower.Policymakers make economic policies based, in part, on their assumptions about how households and businesses will react to a given change in policy.

This is especially true of monetary policy, where central banks work to set interest rates that both encourage or discourage economic activity, while keeping inflation at bay.