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Rules versus discretion: making a monetary rule operational

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  • John B. Carlson

Abstract

A history and analysis of the debate about whether monetary policy should be conducted by rules known in advance to all or by policymaker discretion.

Suggested Citation

  • John B. Carlson, 1988. "Rules versus discretion: making a monetary rule operational," Economic Review, Federal Reserve Bank of Cleveland, issue Q III, pages 2-13.
  • Handle: RePEc:fip:fedcer:y:1988:i:qiii:p:2-13:n:v.24no.3
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    File URL: http://www.clevelandfed.org/research/review/1988/88-q3-carlson.pdf
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    Cited by:

    1. Michael D. Bradley & Dennis W. Jansen, 1989. "Understanding nominal GNP targeting," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 31-40.
    2. Gerald P. Dwyer, 1993. "Rules and discretion in monetary policy," Review, Federal Reserve Bank of St. Louis, issue May, pages 3-13.
    3. Muneesh Kapur & Michael Debabrata Patra, 2012. "Alternative Monetary Policy Rules for India," IMF Working Papers 12/118, International Monetary Fund.

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