Download or read book Pre Commitment the Timeless Perspective and Policymaking from Behind a Veil of Uncertainty written by Richard Dennis and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Woodford (1999) develops the notion of a timelessly optimal pre-commitment policy. This paper uses a simple business cycle model to illustrate this notion. We show that timelessly optimal policies are not unique and that they are not necessarily better than the time-consistent solution. Further, we describe a method for constructing optimal pre-commitment rules in an environment where the policymaker does not know the initial state of the economy. This latter solution is useful for characterizing the benefits policymakers extract through exploiting initial conditions.
Download or read book Pre commitment the Timeless Perspective and Policymaking from Behind a Veil of Uncertainty written by Richard Dennis and published by . This book was released on 2001 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Theory and Policy third edition written by Carl E. Walsh and published by MIT Press. This book was released on 2010-02-12 with total page 639 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new edition of the leading text in monetary economics, a comprehensive treatment revised and enhanced with new material reflecting recent advances in the field. This text presents a comprehensive treatment of the most important topics in monetary economics, focusing on the primary models monetary economists have employed to address topics in theory and policy. It covers the basic theoretical approaches, shows how to do simulation work with the models, and discusses the full range of frictions that economists have studied to understand the impacts of monetary policy. Among the topics presented are money-in-the-utility function, cash-in-advance, and search models of money; informational, portfolio, and nominal rigidities; credit frictions; the open economy; and issues of monetary policy, including discretion and commitment, policy analysis in new Keynesian models, and monetary operating procedures. The use of models based on dynamic optimization and nominal rigidities in consistent general equilibrium frameworks, relatively new when introduced to students in the first edition of this popular text, has since become the method of choice of monetary policy analysis. This third edition reflects the latest advances in the field, incorporating new or expanded material on such topics as monetary search equilibria, sticky information, adaptive learning, state-contingent pricing models, and channel systems for implementing monetary policy. Much of the material on policy analysis has been reorganized to reflect the dominance of the new Keynesian approach. Monetary Theory and Policy continues to be the only comprehensive and up-to-date treatment of monetary economics, not only the leading text in the field but also the standard reference for academics and central bank researchers.
Download or read book What is the Proper Perspective for Monetary Policy Optimality written by Bennett T. McCallum and published by . This book was released on 2005 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economics Letters written by and published by . This book was released on 2002 with total page 954 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Investment Capacity and Uncertainty written by Simon Gilchrist and published by . This book was released on 2002 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Assessing the Lucas Critique in Monetary Policy Models written by Glenn D. Rudebusch and published by . This book was released on 2002 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary and Economic Studies written by and published by . This book was released on 2005-02 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bank of Japan Monetary and Economic Studies written by and published by . This book was released on 2005 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macro Factors and the Affine Term Structure of Interest Rates written by Tao Wu and published by . This book was released on 2001 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Policy and the Slope Factor in Empirical Term Structure Estimations written by Tao Wu and published by . This book was released on 2001 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Quarterly written by and published by . This book was released on 2003 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Empirical Relationship Between Average Asset Correlation Firm Probability of Default and Asset Size written by Jose A. Lopez and published by . This book was released on 2002 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Operating Performance of Banks Among Asian Economies written by Simon H. Kwan and published by . This book was released on 2002 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Employment of Working age People with Disabilities in the 1980s and the 1990s written by Richard V. Burkhauser and published by . This book was released on 2001 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Review written by and published by . This book was released on 2002 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business Review written by and published by . This book was released on 2002 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt:
