Monetary Policy Rules (Volume 31)

by John Brian Taylor (Editor)

This timely volume presents the latest thinking on the monetary policy rules and seeks to determine just what types of rules and policy guidelines function best. A unique cooperative research effort that allowed contributors to evaluate different policy rules using their own specific approaches, this collection presents their striking findings on the potential response of interest rates to an array of variables, including alterations in the rates of inflation, unemployment, and exchange.

Monetary Policy Rules illustrates that simple policy rules are more robust and more efficient than complex rules with multiple variables. A state-of-the-art appraisal of the fundamental issues facing the Federal Reserve Board and other central banks, Monetary Policy Rules is essential reading for economic analysts and policymakers alike.

458 pages, Paperback

First published August 15, 1999

About the author

Mary and Robert Raymond Professor of Economics at Stanford University.

George P. Shultz Senior Fellow in Economics at Stanford University's Hoover Institution

Past Director of the Stanford Institute for Economic Policy Research

Reviews

[John Ledesma]

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