TITLE Monetary Policy Rules : [papers based on the NBER conference on reserach in business cycles, held at Stanford University, 1998] / [edited by] John B. Taylor ; National Bureau of Economic Research.
University of Chicago Press
PHYSICAL DESCRIPTION - ix, 447 p. : ill.
BIBLIOGRAPHY Includes bibliographical references and indexes
ADDED NAME Taylor, John B.
National Bureau of Economic Research Conference on Research in Business Cycles (Stanford University (1998)
ISBN 0226791254
UDC NUMBER 336.748


Location Address Count Shelf Status
Bibliotēka 01.2 1 336.748 On a shelf Available to order


This volume results from a unique cooperative research effort between nearly thirty monetary experts and policymakers from central banks and universities who evaluated different policy rules using a variety of techniques. Their striking findings on the potential response of interest rates to an array of variables, including alterations in the rates of inflation, unemployment, and exchange, illustrate that simply policy rules are more robust and more efficient than complex rules with multiple variables.


  • Performance of operational policy rules in an estimates semiclassical structural model / Bennett T. McCallum, Edward Nelson
  • Interest rate rules in an estimated sticky price model / Julio J. Rotemberg, M. Woodford
  • Policy rules for open economies / Laurence Ball
  • Forward-looking rules for monetary policy / Nicoletta Batini, Andrew G. Haldane
  • Policy rules for inflation targeting / Glenn D. Rudebusch, Lars E.O. Svenson
  • Robustness of simple monetary policy rules under model uncertainty / Andrew Levin, Volker Wieland, John C. Williams
  • A historical analysis of monetary policy rules / John B. Taylor
  • What should the monetary authority do when prices are sticky? / Robert G. King, Alexander L. Wolman
  • Rethinking the role of NAIRU in moetary policy: implications of model formulation and uncertainty / Arturo Estrella, Frederic S. Mishkin

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