Since 2014
On the theory of interest rate policy
PSL Quarterly Review
View Archive Info| Field | Value | |
| Title |
On the theory of interest rate policy
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| Creator |
Spahn, Heinz-Peter
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| Subject |
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Interest Rates, Interest, Monetary Policy, Monetary, Policy E43, E58, E52 |
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| Description |
A new consensus in the theory of monetary policy has been reached pointing to the pivotal role of interest rates that are set in accordance with central banks' reaction functions. The decisive criterion of assessing the Taylor rule, inflation and monetary targeting is not the macrotheoretic foundation of these concepts. They serve as "languages" coordinating heterogeneous beliefs among policy makers and private agents, and should also allow rule-based discretionary policies when markets are in need of leadership. Contrary to the ECB dogma, the Fed is right to have an eye on the risks of inflation and unemployment. JEL Codes: E43, E58, E52Keywords: Interest Rates, Interest, Monetary Policy, Monetary, Policy
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| Publisher |
Economia civile
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| Contributor |
—
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| Date |
2012-04-19
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — |
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| Format |
application/pdf
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| Identifier |
http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9951
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| Source |
PSL Quarterly Review; Vol 54, No 219 (2001)
PSL Quarterly Review; Vol 54, No 219 (2001) 2037-3643 ISSN 2037-3635 |
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| Language |
eng
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| Relation |
http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9951/9832
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| Rights |
Copyright (c) 2016 Heinz-Peter Spahn
http://creativecommons.org/licenses/by-nc-nd/4.0 |
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