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This volume presents late-1990s thinking on monetary policy rules and seeks to determine just what types of rules and policy guidelines function best. A co-operative research effort that allowed contributors to evaluate different policy rules using their own specific approaches, this collection presents their findings on the potential response of interest rates to an array of variables, including alterations in the rates of inflation, unemployment, and exchange. This work illustrates that simple policy rules are more robust and more efficient than complex rules with multiple variables. A state-of-the-art appraisal of the fundamental issues facing the Federal Reserve Board and other central banks, the text should be of interest for economic analysts and policymakers alike.

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Book Details

ISBN: 9780226791258
ISBN-10: 0226791254
Format: Paperback
(230mm x 152mm x 25mm)
Pages: 448
Imprint: University of Chicago Press
Publisher: The University of Chicago Press
Publish Date: 4-Jun-2001
Country of Publication: United States

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Author Biography - John B. Taylor

John B. Taylor is the Mary and Robert Raymond Professor of Economics at Stanford University and a research associate of the National Bureau of Economic Research.

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