Imperfect knowledge and monetary policy /
Imperfect knowledge and monetary policy /
Otmar Issing ... [et al.].
- Cambridge, UK ; New York : Cambridge University Press, 2005.
- xi, 138 p. : ill. ; 23 cm.
- The Stone lectures in economics .
Includes bibliographical references (p. 122-135) and index.
This book discusses the problem of formulating monetary policy in practice, under the uncertain circumstances which characterize the real world. It further explores the implications of a simple model where the policy maker has imperfect knowledge about potential output and the private sector forms expectations according to adaptive learning. The book shows that imperfect knowledge limits the scope for active stabilization policy and strengthens the case for conservation.
0521854865 (hbk.) 0521671078 (pbk.) 9780521854863 (hbk.) 9780521671071 (pbk.)
2006296138
GBA579493 bnb
013296618 Uk
Monetary policy.
HG230.3 / .I44 2005
332.4'6
Includes bibliographical references (p. 122-135) and index.
This book discusses the problem of formulating monetary policy in practice, under the uncertain circumstances which characterize the real world. It further explores the implications of a simple model where the policy maker has imperfect knowledge about potential output and the private sector forms expectations according to adaptive learning. The book shows that imperfect knowledge limits the scope for active stabilization policy and strengthens the case for conservation.
0521854865 (hbk.) 0521671078 (pbk.) 9780521854863 (hbk.) 9780521671071 (pbk.)
2006296138
GBA579493 bnb
013296618 Uk
Monetary policy.
HG230.3 / .I44 2005
332.4'6