Monetary Policy Strategies.
The paper considers the merits of rules and discretion for monetary policy when the structure of the macroeconomic model and the probability distributions of disturbances are not well defined. It is argued that when it is costly to delay policy reactions to seldom-experienced shocks until formal alg...
| Autor Corporativo: | |
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| Formato: | Revista |
| Lenguaje: | English |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
1988.
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| Colección: | IMF Working Papers; Working Paper ;
No. 1988/088 |
| Acceso en línea: | Full text available on IMF |