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The paper examines international issues that arise in the design and evaluation of macroeconomic policy rules. It begins with a theoretical investigation of the effects of fiscal and monetary policy...
Policy Rules as a Means to a More Effective Monetary Policy.
Applying Academic Research on Monetary Policy Rules: An Exercise in Translational Economics.
This paper examines the implications of recent research on monetary policy rules for practical monetary policy making, with special emphasis on strategies for setting interest rates by the European ...
A written version of a dinner speech given at the conference, “Inflation Targeting and Monetary Policies in Emerging Economies” at the Central Bank of the Republic of Indonesia, Jakarta, Indonesia, ...
This paper shows that the use of monetary policy rules in emerging market economies has many of the same benefits that have been found in research and in practice in developed economies. For those e...
Over the past 20 years, the use of monetary policy rules has become pervasive in analyzing and prescribing monetary policy. This paper traces the development of such rules and their use in the anal...
This lecture examines monetary policy during the past three decades. It documents two contrasting eras: first a Rules-Based Era from 1985 to 2003 and second an Ad Hoc Era from 2003 to the present. D...
Michael Woodford’s chapter is fi lled with fascinating ideas and insights, each carefully explained. Most importantly, he proposes an ambitious future research program with the specifi c practical p...
his paper examines the implications of forward- and backward-looking monetary policy rules in an environment with monetary–fiscal interactions. We find that the unique stationary rational expectations...
We examine the importance of variable output (Gross Domestic Product (GDP) growth rate) on the preferences of the policy makers. We do so by examining the effect of output regimes on the form of monet...
An inflation-augmented Atesoglu monetary policy rule is introduced. The Atesoglu rule is based on an estimate of the neutral rate of interest of Keynes. Actual Fed monetary policy and policy implied b...

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