| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w2770
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| 来源ID | Working Paper 2770
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| Monetary Policy Strategies |
| Robert P. Flood; Peter Isard
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| 发表日期 | 1988-11-01
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| 出版年 | 1988
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| 语种 | 英语
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| 摘要 | The paper considers the merits of rules and discretion for monetary policy when the structure of the macroeconomic model and the probability distributions of disturbances are not well defined. It is argued that when it is costly to delay policy reactions to seldom-experienced shocks until formal algorithmic learning has been accomplished, and when time consistency problems are significant, a mixed strategy that combines a simple verifiable rule with discretion is attractive. The paper also discusses mechanisms for mitigating credibility problems and emphasizes that arguments against various types of simple rules lost their force under a mixed strategy. |
| 主题 | Macroeconomics
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| URL | https://www.nber.org/papers/w2770
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/560033
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推荐引用方式
GB/T 7714 |
Robert P. Flood,Peter Isard. Monetary Policy Strategies. 1988.
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文件名：
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w2770.pdf
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格式：
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Adobe PDF
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