Results 1 - 2 of 2 for Federal Funds Rate [Author: Michael Woodford]
Conventional and Unconventional Monetary Policy - Review
The authors extend a standard New Keynesian model to incorporate heterogeneity in spending opportunities and two sources of (potentially time-varying) credit spreads and to allow a role for the central bank’s balance sheet in equilibrium determination.
research.stlouisfed.org/.../review/2010/07/01/conventional-and-unconventional-monetary-policy
Inflation Targeting and Optimal Monetary Policy - Review
The author surveys the theoretical literature on optimal monetary policy. He concludes that the recent literature on the welfare consequences of alternative monetary policies finds that there is less tension between inflation stabilization and properly defined real stabilization objectives than traditional (nonwelfare-theoretic) literature on monetary stabilization policy has often suggested.
research.stlouisfed.org/.../review/2004/07/01/inflation-targeting-and-optimal-monetary-policy
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