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Optimal monetary policy under uncertainty

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This book provides a thorough survey of the model-based literature on optimal monetary in a stochastic setting. The survey begins with the literature of the 1970s which focused on the information problem in policy design and extends to the New Keynesian approach of the 1990s which centered on evaluating alternative targeting strategies. New to the second edition is consideration of research since the world financial crisis on the role of financial markets and institutions in the conduct of monetary policy.


內容簡介來源:

Part 1. Imperfect information, responses to shocks, and credibility issues


Part 2. Optimal monetary policy: a new Keynesian perspective


Part 3. Research in monetary policy since the Global Financial Crisis.

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