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Information and Uncertainty in the Theory of Monetary Policy

  • Morten Balling
    ()

Registered editor(s):
  • Helmut Wagner

Theory and practice of monetary policy have changed significantly over the past three decades. A very important part of today's monetary policy is management of the expectations of private market participants. Publishing and justifying the central bank's best forecast of inflation, output, and the instrument rate is argued to be the most effective way to manage those expectations.

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This book is provided by SUERF - The European Money and Finance Forum in its series SUERF Studies with number 2007/1 and published in 2007.
ISBN: 978-3-902109-36-1
Handle: RePEc:erf:erfstu:44
Contact details of provider: Postal: SUERF c/o OeNB, Otto-Wagner-Platz 3, A-1090 Vienna, Austria
Phone: +43/1/404 20 7216
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References listed on IDEAS
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  1. Woodford, Michael, 1990. "Learning to Believe in Sunspots," Econometrica, Econometric Society, vol. 58(2), pages 277-307, March.
  2. Helmut Wagner, 1999. "Central Bank Independence and the Lessons for Transition Economies from Developed and Developing Countries," Comparative Economic Studies, Palgrave Macmillan, vol. 41(4), pages 1-22, December.
  3. Michael Woodford, 2005. "Central bank communication and policy effectiveness," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Aug, pages 399-474.
  4. Alexandre Lamfalussy, 2004. "Financial Globalisation and Financial Market Integration in Europe: Challenges Ahead for the European System of Central Banks," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
  5. Walsh, Carl E., 2005. "Endogenous objectives and the evaluation of targeting rules for monetary policy," Journal of Monetary Economics, Elsevier, vol. 52(5), pages 889-911, July.
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