Imperfect Knowledge and Monetary Policy

Released on by Vítor Gaspar
preview-18

  • Imperfect Knowledge and Monetary Policy Book Detail

  • Author : Vítor Gaspar
  • Release Date : 2006-02-16
  • Publisher : Cambridge University Press
  • Genre : Business & Economics
  • Pages : 160
  • ISBN 13 : 9781139448567
  • File Size : 13,13 MB
DOWNLOAD BOOK

Imperfect Knowledge and Monetary Policy by Vítor Gaspar PDF Summary

Book Description: 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 academic literature and recommends an approach involving, first, a firm reliance on the few fundamental and robust results of monetary economics and, secondly, a pragmatic attitude to policy implementation, taking into consideration lessons from central banking experience. The second lecture revisits Milton Friedman's questions about the effects of active stabilization policies on business cycle fluctuations. It explores the implications of a simple model where the policy maker has imperfect knowledge about potential output and the private sector forms expectations according to adaptive learning. This lecture shows that imperfect knowledge limits the scope for active stabilization policy and strengthens the case for conservatism.

Disclaimer: www.yourbookbest.com does not own Imperfect Knowledge and Monetary Policy books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

Imperfect Knowledge and Monetary Policy

Imperfect Knowledge and Monetary Policy

File Size : 23,23 MB
Total View : 4707 Views
DOWNLOAD

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 uncert

The Land

The Land

File Size : 10,10 MB
Total View : 6961 Views
DOWNLOAD

A story of violence at the heart of a pastoral landscape, from the author of Indie Next pick and All Iowa Reads selection Little Wolves Recovering from a terrib