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Monetary Policy Rules (National Bureau of Economic Research Studies in Business Cycles) Hardcover – August 15, 1999


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Editorial Reviews

From the Inside Flap

Should we raise interest rates, lower interest rates, or keep them the same? This is the most difficult, yet the most important, question that Federal Reserve policymakers face. One decision could cause recession or inflation while another could cause continued economic expansion. Investors anticipate the Federal Reserve's decision as it affects bonds, stocks, and foreign exchange rates.

This volume results from a unique cooperative research effort between nearly thirty monetary experts and policymakers from central banks and universities who evaluated different policy rules using a variety of techniques. 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, illustrate 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.
--This text refers to the Paperback edition.

About the Author

John B. Taylor is the Mary and Robert Raymond Professor of Economics at Stanford University and a research associate of the National Bureau of Economic Research.
--This text refers to the Paperback edition.
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Product Details

  • Series: National Bureau of Economic Research Studies in Business Cycles (Book 31)
  • Hardcover: 458 pages
  • Publisher: University of Chicago Press; First Ed. edition (August 15, 1999)
  • Language: English
  • ISBN-10: 0226791246
  • ISBN-13: 978-0226791241
  • Product Dimensions: 9.4 x 6.4 x 1.2 inches
  • Shipping Weight: 1.8 pounds
  • Amazon Best Sellers Rank: #4,629,318 in Books (See Top 100 in Books)

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