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Rules and discretion in monetary policy

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  • Gerald P. Dwyer

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  • Gerald P. Dwyer, 1993. "Rules and discretion in monetary policy," Review, Federal Reserve Bank of St. Louis, issue May, pages 3-13.
    • Handle: RePEc:fip:fedlrv:y:1993:i:may:p:3-13
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    References listed on IDEAS

    as
    1. Calvo, Guillermo A, 1978. "On the Time Consistency of Optimal Policy in a Monetary Economy," Econometrica, Econometric Society, vol. 46(6), pages 1411-1428, November.
    2. Henry C. Simons, 1936. "Rules versus Authorities in Monetary Policy," Journal of Political Economy, University of Chicago Press, vol. 44(1), pages 1-1.
    3. John B. Carlson, 1988. "Rules versus discretion: making a monetary rule operational," Economic Review, Federal Reserve Bank of Cleveland, vol. 24(Q III), pages 2-13.
    4. Leonall C. Andersen & Keith M. Carlson, 1986. "A monetarist model for economic stabilization," Review, Federal Reserve Bank of St. Louis, issue Oct, pages 45-66.
    5. Franco Modigliani, 1977. "The monetarist controversy; or, should we forsake stabilization policies?," Economic Review, Federal Reserve Bank of San Francisco, issue Spr suppl, pages 27-46.
    6. Dwyer, Gerald P, Jr, 1992. "Stabilization Policy Can Lead to Chaos," Economic Inquiry, Western Economic Association International, vol. 30(1), pages 40-46, January.
    7. James B. Bullard, 1991. "Learning, rational expectations and policy: a summary of recent research," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 50-60.
    8. Alison Butler, 1990. "A methodological approach to chaos: are economists missing the point?," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 36-48.
    9. Cooper, J Phillip & Fischer, Stanley, 1974. "Monetary and Fiscal Policy in the Fully Stochastic St. Louis Econometric Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 6(1), pages 1-22, February.
    10. Neil Wallace, 1977. "Why the Fed should consider holding M0 constant," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 1(Sum).
    11. Goodhart, Charles, 1989. "The Conduct of Monetary Policy," Economic Journal, Royal Economic Society, vol. 99(396), pages 293-346, June.
    12. Pindyck, Robert S, 1973. "Optimal Policies for Economic Stabilization," Econometrica, Econometric Society, vol. 41(3), pages 529-560, May.
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    Citations

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    Cited by:

    1. Malte Tobias Kähler, 2011. "From German Rules to European Discretion: Policy’s Slippery Slope," Chapters, in: David Howden (ed.), Institutions in Crisis, chapter 9, Edward Elgar Publishing.
    2. Chapra, Muhammad Umer, 1996. "Monetary Management In An Islamic Economy," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 4, pages 2-35.

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    Keywords

    Monetary policy; Velocity of money;

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