| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13398 |
| 来源ID | Working Paper 13398 |
| On the Optimal Choice of a Monetary Policy Instrument | |
| Andrew Atkeson; V. V. Chari; Patrick J. Kehoe | |
| 发表日期 | 2007-09-12 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | The optimal choice of a monetary policy instrument depends on how tight and transparent the available instruments are and on whether policymakers can commit to future policies. Tightness is always desirable; transparency is only if policymakers cannot commit. Interest rates, which can be made endogenously tight, have a natural advantage over money growth and exchange rates, which cannot. As prices, interest and exchange rates are more transparent than money growth. All else equal, the best instrument is interest rates and the next-best, exchange rates. These findings are consistent with the observed instrument choices of developed and less-developed economies. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates ; Monetary Policy ; Fiscal Policy |
| URL | https://www.nber.org/papers/w13398 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/571070 |
| 推荐引用方式 GB/T 7714 | Andrew Atkeson,V. V. Chari,Patrick J. Kehoe. On the Optimal Choice of a Monetary Policy Instrument. 2007. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w13398.pdf（297KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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