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Perspektiven und Grenzen der Verwendung geldpolitischer Regeln

  • Ralf Fendel
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    Monetary policy rules that take the form of interest rate rules are becoming more and more popular and widely-used in research on monetary theory, and some authors even recommend their use in practical monetary policy. This paper systemizes the variety of proposed interest rate rules and draws connections to their theoretical roots. On the basis of new research results the paper also discusses possibilities of using such rules in practice. Due to a variety of problems the scope for practical use remains very limited. Copyright Verein für Socialpolitik und Blackwell Publishers Ltd, 2004

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    Article provided by Verein für Socialpolitik in its journal Perspektiven der Wirtschaftspolitik.

    Volume (Year): 5 (2004)
    Issue (Month): 2 (05)
    Pages: 169-192

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    Handle: RePEc:bla:perwir:v:5:y:2004:i:2:p:169-192
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    28. Richard Clarida & Jordi Gali & Mark Gertler, 1997. "Monetary Policy Rules in Practice: Some International Evidence," NBER Working Papers 6254, National Bureau of Economic Research, Inc.
    29. Robert J. Tetlow & Peter von zur Muehlen, 2000. "Robust monetary policy with misspecified models: does model uncertainty always call for attenuated policy?," Finance and Economics Discussion Series 2000-28, Board of Governors of the Federal Reserve System (U.S.).
    30. Fuhrer, Jeffrey C, 1997. "Inflation/Output Variance Trade-Offs and Optimal Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(2), pages 214-34, May.
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