All listings for this product
Best-selling in Non-Fiction Books
Save on Non-Fiction Books
- AU $61.30Trending at AU $72.68
- AU $82.00Trending at AU $98.73
- AU $36.78Trending at AU $37.91
- AU $50.16Trending at AU $55.33
- AU $33.32Trending at AU $36.03
- AU $18.16Trending at AU $21.03
- AU $25.01Trending at AU $27.16
About this product
- DescriptionBased on lectures given as part of The Stone Lectures in Ecomics, this book discusses the problem of formulating monetary policy in practice, under the uncertain circumstances which characterize the real world. The first lecture highlights the limitations of decision rules suggested by the academic literature and recommends an approach involving, first, a firm reliance on the few fundamental and robust results of monetary ecomics and, secondly, a pragmatic attitude to policy implementation, taking into consideration lessons from central banking experience. The second lecture revisits Milton Friedman's questions about the effects of active stabilization policies on business cycle fluctuations. It explores the implications of a simple model where the policy maker has imperfect kwledge about potential output and the private sector forms expectations according to adaptive learning. This lecture shows that imperfect kwledge limits the scope for active stabilization policy and strengthens the case for conservatism.
- Author BiographyOtmar Issing is a member of the Executive Board, European Central Bank. Vitor Gaspar is Special Advisor, Banco de Portugal. Oreste Tristani is Principal Economist, DG Research, European Central Bank. David Vestin is Economist, DG Research, European Central Bank.
- Author(s)David Vestin,Oreste Tristani,Otmar Issing,Vitor Gaspar
- PublisherCambridge University Press
- Date of Publication16/02/2006
- SubjectEconomics: Professional & General
- Series TitleStone Lectures in Economics
- Place of PublicationCambridge
- Country of PublicationUnited Kingdom
- ImprintCambridge University Press
- Content Note1 table
- Weight330 g
- Width138 mm
- Height216 mm
- Spine10 mm
This item doesn't belong on this page.
Thanks, we'll look into this.