Title: Imperfect Knowledge and Monetary Policy (The Stone Lectures in Economics)
Publisher: Cambridge University Press
Publication Date: 2006
Language: English
ISBN 10: 0521671078
ISBN 13: 9780521671071
Binding: Soft cover
Condition: New

About this title

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.

About the Authors

Otmar Issing is a member of the Executive Board, European Central Bank.

V�tor 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.

"About this title" may belong to another edition of this title.

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