| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24135 |
| 来源ID | Working Paper 24135 |
| Making Discretion in Monetary Policy More Rule-Like | |
| Frederic S. Mishkin | |
| 发表日期 | 2017-12-25 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | This paper argues that the rules versus discretion debate has been miscast because a central bank does not have to choose only between adopting a policy rule versus pure discretion, both of which have serious shortcomings. Rather it can choose a constrained discretionary regime that has rule-like attributes. Monetary policy discretion can be made more rule-like, by 1) adopting a nominal anchor such as an inflation target, and 2) communication of a monetary policy reaction process, especially through data-based forward guidance, in which the monetary policy authorities describe how the future policy path will change as economic circumstances change. |
| 主题 | Macroeconomics ; Monetary Policy |
| URL | https://www.nber.org/papers/w24135 |
| 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/581809 |
| 推荐引用方式 GB/T 7714 | Frederic S. Mishkin. Making Discretion in Monetary Policy More Rule-Like. 2017. |
| 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 | ||
| w24135.pdf（170KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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