Description
Book SynopsisDiscusses applied aspects of monetary policy, with practical research on the timing, magnitude, and channels of central bank actions. The authors evaluate a variety of policy rules based on monetary aggregates, nominal income, and commodity prices, analyzing the behaviour of prices and inflation.
Table of ContentsAcknowledgments Introduction by N. Gregory Mankiw 1: The Use of a Monetary Aggregate to Target Nominal GDP Martin Feldstein, James H. Stock. 2: Nominal Income Targeting Robert E. Hall, N. Gregory Mankiw. 3: Nonstandard Indicators for Monetary Policy: Can Their Usefulness Be Judged from Forecasting Regressions? Michael Woodford 4: On Sticky Prices: Academic Theories Meet the Real World Alan S. Blinder 5: What Determines the Sacrifice Ratio? Laurence Ball 6: Measuring Core Inflation Michael F. Bryan, Stephen G. Cecchetti. 7: Monetary Policy and Bank Lending Anil K. Kashyap, Jeremy C. Stein. 8: Historical Perspectives on the Monetary Transmission Mechanism Jeffrey A. Miron, Christina D. Romer, David N. Weil. 9: Federal Reserve Policy: Cause and Effect Matthew D. Shapiro Contributors Author Index Subject Index
