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Issues Concerning Nominal Anchors for Monetary Policy
By:Mr. Michael Mussa,Mr. Robert P. Flood
Published on 1994-05-01 by International Monetary Fund

This paper presents a selective survey of issues relevant to the choice of nominal anchors for monetary policy. Section I reviews long price-level histories for the United Kingdom and United States, which reveal that the price level behaved very differently following WWII in these countries than it had done in previous post-war experiences. In particular following WWII the responsibilities of monetary policy expanded to encompass a business- cycle stabilization role and the nominal anchor shifted from the fixed anchor or price-level stability to the moving anchor of inflation-rate stability. The remaining sections of the paper review some of the considerations that are relevant to setting the average inflation rate in countries without a fixed nominal anchor.
This Book was ranked at 37 by Google Books for keyword Monetary economics.
Book ID of Issues Concerning Nominal Anchors for Monetary Policy's Books is S0R9JSx5e64C, Book which was written byMr. Michael Mussa,Mr. Robert P. Floodhave ETAG "sBkzSLFiwz4"
Book which was published by International Monetary Fund since 1994-05-01 have ISBNs, ISBN 13 Code is 9781455246458 and ISBN 10 Code is 145524645X
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