Strategies for Monetary Policy
John H. Cochrane, John B. Taylor
- 416 pages
- English
- ePUB (adapté aux mobiles)
- Disponible sur iOS et Android
Strategies for Monetary Policy
John H. Cochrane, John B. Taylor
Ă propos de ce livre
As the Federal Reserve System conducts its latest review of the strategies, tools, and communication practices it deploys to pursue its dual-mandate goals of maximum employment and price stability, Strategies for Monetary Policy âdrawn from the 2019 Monetary Policy Conference at the Hoover Institutionâemerges as an especially timely volume. The book's expert contributors examine key policy issues, offering their perspectives on US monetary policy tools and instruments and the interaction between Fed policies and financial markets. The contributors review central bank inflation-targeting policies, how various monetary strategies actually work in practice, and the use of nominal GDP targeting as a way to get the credit market to work well and fix the friction in that market. In addition, they discuss the effects of the various rules that the Fed considers in setting policy, how the Fed's excessive fine-tuning of the economy and financial markets has added financial market volatility and harmed economic performance, and the key issues that impact achievement of the Fed's 2 percent inflation objective. The volume concludes by exploring potential options for enhancing our policy approach.