Monetary policy in the presence of a stochastic deficit:
"This paper presents a welfare analysis of monetary policy rules that differ as regards the extent to which monetary policy accommodates an exogenous, stochastic deficit. Examples show that a nonaccommodating rule, one involving a higher ratio of bonds to currency the higher the deficit, is not...
Gespeichert in:
Hauptverfasser: | , |
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Format: | Buch |
Sprache: | English |
Veröffentlicht: |
Minneapolis
Federal Reserve Bank [u.a.]
1979
|
Schriftenreihe: | Federal Reserve Bank of Minneapolis, Research Department / Staff report
42 |
Zusammenfassung: | "This paper presents a welfare analysis of monetary policy rules that differ as regards the extent to which monetary policy accommodates an exogenous, stochastic deficit. Examples show that a nonaccommodating rule, one involving a higher ratio of bonds to currency the higher the deficit, is not necessarily better than rules that accommodate: either a rule involving a constant ratio of bonds to currency or one involving a lower ratio of bonds to currency the higher the deficit. Moreover, the nonaccommodating rule can imply more variation in the price level than the accommodating rules"--Federal Reserve Bank of Minneapolis web site |
Beschreibung: | 21 Bl. |
Internformat
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100 | 1 | |a Bryant, John B. |e Verfasser |0 (DE-588)170044289 |4 aut | |
245 | 1 | 0 | |a Monetary policy in the presence of a stochastic deficit |c John Bryant and Neil Wallace |
264 | 1 | |a Minneapolis |b Federal Reserve Bank [u.a.] |c 1979 | |
300 | |a 21 Bl. | ||
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490 | 1 | |a Federal Reserve Bank of Minneapolis, Research Department / Staff report |v 42 | |
520 | 1 | |a "This paper presents a welfare analysis of monetary policy rules that differ as regards the extent to which monetary policy accommodates an exogenous, stochastic deficit. Examples show that a nonaccommodating rule, one involving a higher ratio of bonds to currency the higher the deficit, is not necessarily better than rules that accommodate: either a rule involving a constant ratio of bonds to currency or one involving a lower ratio of bonds to currency the higher the deficit. Moreover, the nonaccommodating rule can imply more variation in the price level than the accommodating rules"--Federal Reserve Bank of Minneapolis web site | |
700 | 1 | |a Wallace, Neil |d 1939- |e Verfasser |0 (DE-588)128531061 |4 aut | |
810 | 2 | |a Staff report |t Federal Reserve Bank of Minneapolis, Research Department |v 42 |w (DE-604)BV026082639 |9 42 | |
999 | |a oai:aleph.bib-bvb.de:BVB01-028749571 |
Datensatz im Suchindex
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author | Bryant, John B. Wallace, Neil 1939- |
author_GND | (DE-588)170044289 (DE-588)128531061 |
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callnumber-subject | HB - Economic Theory and Demography |
ctrlnum | (OCoLC)246377286 (DE-599)GBV255296312 |
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id | DE-604.BV043329354 |
illustrated | Not Illustrated |
indexdate | 2024-07-10T07:23:13Z |
institution | BVB |
language | English |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-028749571 |
oclc_num | 246377286 |
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owner_facet | DE-188 |
physical | 21 Bl. |
publishDate | 1979 |
publishDateSearch | 1979 |
publishDateSort | 1979 |
publisher | Federal Reserve Bank [u.a.] |
record_format | marc |
series2 | Federal Reserve Bank of Minneapolis, Research Department / Staff report |
spelling | Bryant, John B. Verfasser (DE-588)170044289 aut Monetary policy in the presence of a stochastic deficit John Bryant and Neil Wallace Minneapolis Federal Reserve Bank [u.a.] 1979 21 Bl. txt rdacontent n rdamedia nc rdacarrier Federal Reserve Bank of Minneapolis, Research Department / Staff report 42 "This paper presents a welfare analysis of monetary policy rules that differ as regards the extent to which monetary policy accommodates an exogenous, stochastic deficit. Examples show that a nonaccommodating rule, one involving a higher ratio of bonds to currency the higher the deficit, is not necessarily better than rules that accommodate: either a rule involving a constant ratio of bonds to currency or one involving a lower ratio of bonds to currency the higher the deficit. Moreover, the nonaccommodating rule can imply more variation in the price level than the accommodating rules"--Federal Reserve Bank of Minneapolis web site Wallace, Neil 1939- Verfasser (DE-588)128531061 aut Staff report Federal Reserve Bank of Minneapolis, Research Department 42 (DE-604)BV026082639 42 |
spellingShingle | Bryant, John B. Wallace, Neil 1939- Monetary policy in the presence of a stochastic deficit |
title | Monetary policy in the presence of a stochastic deficit |
title_auth | Monetary policy in the presence of a stochastic deficit |
title_exact_search | Monetary policy in the presence of a stochastic deficit |
title_full | Monetary policy in the presence of a stochastic deficit John Bryant and Neil Wallace |
title_fullStr | Monetary policy in the presence of a stochastic deficit John Bryant and Neil Wallace |
title_full_unstemmed | Monetary policy in the presence of a stochastic deficit John Bryant and Neil Wallace |
title_short | Monetary policy in the presence of a stochastic deficit |
title_sort | monetary policy in the presence of a stochastic deficit |
volume_link | (DE-604)BV026082639 |
work_keys_str_mv | AT bryantjohnb monetarypolicyinthepresenceofastochasticdeficit AT wallaceneil monetarypolicyinthepresenceofastochasticdeficit |