Recent Developments in Monetary Macroeconomics and US Dollar Policy
AbstractThis paper summarizes the recent developments in the theory and practice of monetary policy in a closed economy and explains what these developments mean for the US dollar policy. There is no conflict between what is an appropriate US monetary policy at home or abroad, because the dollar is the world’s key currency. Both at home and abroad, the main problem for US policymakers is to provide an anchor for the dollar. Recent experience in other countries suggests that a solution is evolving in the use of inflation targets.
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Bibliographic InfoArticle provided by IUP Publications in its journal The IUP Journal of Monetary Economics.
Volume (Year): V (2007)
Issue (Month): 3 (August)
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Other versions of this item:
- William T. Gavin, 2005. "Recent developments in monetary macroeconomics and U.S. dollar policy," Working Papers 2005-062, Federal Reserve Bank of St. Louis.
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