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...
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Minneapolis
Federal Reserve Bank [u.a.]
1979
|
| Series: | Federal Reserve Bank of Minneapolis, Research Department / Staff report
42 |
| Summary: | "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 |
| Physical Description: | 21 Bl. |
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| 490 | 1 | |a Federal Reserve Bank of Minneapolis, Research Department / Staff report |v 42 | |
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Record in the Search Index
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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 |
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| 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 |