eBook, PDF

The Science and Practice of Monetary Policy Today (eBook, PDF)

The Deutsche Bank Prize in Financial Economics 2007

Redaktion: Wieland, Volker
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This book presents important aspects of the New-Keynesian theory of monetary policy and its implications for the practical decision-making of central bankers today. Bridging the theory and practice of monetary policy, it provides an exposition on the key elements of the New-Keynesian approach, outlines important lessons for policymakers, and points to new directions for further research. Important policy implications of the New-Keynesian approach such as the case for forecast targeting as a strategy for monetary policy, the combination of model-based forecasts with cyclical analysis, and strat...

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