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Optimal Monetary Policy Under Uncertainty |
Richard T. Froyen, Professor of Economics, University of North Carolina, Chapel Hill, US and Alfred V. Guender, Associate Professor, University of Canterbury, New Zealand
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| 2007 |
352 pp |
Hardback |
978 1 84542 964 5 |
$135.00 |
on-line discount
$121.50 |
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| 2008 |
352 pp |
Paperback |
978 1 84844 344 0 |
$60.00 |
on-line discount
$48.00 |
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‘Froyen and Guender have provided a thorough and careful analysis of optimal monetary policy over most of the range of theoretical models that have been used in modern macroeconomics. By providing a comprehensive and clear comparative framework they will help the student of monetary policy understand why there have been conflicting views of what policy makers should do.’
– Central Banking
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Contents: Preface Part I: Imperfect Information, Responses to Shocks, and Credibility Issues 1. Introduction, Part I 2. A Basic Model and Some Early Results 3. The Strategy of Monetary Policy: Targets, Instruments and Information Variables 4. A Variable Price Level, Supply Shocks and Rational Expectations 5. Optimal Monetary and Exchange Rate Policy in the Open Economy 6. Monetary Policy Credibility Part II: Recent Developments in Monetary Policy 7. Introduction, Part II 8. The Phillips Curve: Recent Incarnations 9. The Forward-Looking Model: The Closed Economy 10. The Forward-Looking Model: Additional Topics 11. The Forward-Looking Model: The Open Economy 12. The New Keynesian Model: The Backward-Looking Case References Index
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