Vítor Gaspar, Otmar Issing, Oreste Tristani

Imperfect Knowledge and Monetary Policy

• Gebundenes Buch

Produktbeschreibung

An exploration of the problem of formulating monetary policy in practice.

Produktdetails

• Verlag: Cambridge University Press
• Seitenzahl: 152
• Erscheinungstermin: 8. Mai 2015
• Englisch
• Abmessung: 222mm x 145mm x 12mm
• Gewicht: 333g
• ISBN-13: 9780521854863
• ISBN-10: 0521854865
• Artikelnr.: 22135756

Autorenporträt

Otmar Issing is a member of the Executive Board, European Central Bank.

Inhaltsangabe

Acknowledgments
Introduction
Outline of the two lectures
First lecture: Monetary Policy in Uncharted Territory. 1. Introduction
2. Uncharted territory: unique historical events
3. Achieving price stability
4. Avoiding excess volatility in inflation, output and the interest rate
5. Pragmatic monetarism: The Bundesbank
6. A stability-oriented strategy: the ECB
7. Conclusions
Second lecture: Imperfect Knowledge, Learning and Conservatism. 1. Introduction
2. Time inconsistency, cost-push shocks and Rogoff's conservatism
3. Empirical output gap uncertainty
4. Output gap uncertainty, learning and conservatism
5. Different degrees of CB's knowledge and information
6. Conclusions
References.