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Synopsis
Based on lectures given as part of The Stone Lectures in Economics, this book discusses the problem of formulating monetary policy in practice, under the uncertain circumstances which characterize the real world. How should central banks set monetary policy? In which way should they take uncertainty into account when designing a monetary policy strategy? Should they respond to shocks aggressively or cautiously? These questions are discussed both with reference to the experience of the Bundesbank and of the European Central Bank and in relation to a simple stylized economic model.
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About the Authors
Otmar Issing is a member of the Executive Board, European Central Bank.
Vítor 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.
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Imperfect Knowledge and Monetary Policy
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Condition: New. An exploration of the problem of formulating monetary policy in practice. Series Editor(s): Weale, Martin. Series: Stone Lectures in Economics. Num Pages: 152 pages, 1 table. BIC Classification: KCBM; KCL. Category: (P) Professional & Vocational. Dimension: 216 x 138 x 8. Weight in Grams: 190. . 2006. Illustrated. paperback. . . . . Seller Inventory # V9780521671071
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