Skip to main content
main-content
Top

Hint

Swipe to navigate through the chapters of this book

2019 | OriginalPaper | Chapter

5. Optimal Monetary Policy

Authors: Jin Cao, Gerhard Illing

Published in: Instructor's Manual for Money: Theory and Practice

Publisher: Springer International Publishing

share
SHARE

Abstract

This chapter provides exercises for optimal monetary policy in different setups, including the game theory based, Barro-Gordon type models, as well as the New Keynesian DSGE models. Further issues such as time-inconsistency problem, inflation bias, and their solutions are also discussed in the exercises. Solutions are provided for selected exercises.

To get access to this content you need the following product:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 69.000 Bücher
  • über 500 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Testen Sie jetzt 15 Tage kostenlos.

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 58.000 Bücher
  • über 300 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Testen Sie jetzt 15 Tage kostenlos.

Literature
go back to reference Barro, R. J., & Gordon, D. B. (1983a). A positive theory of monetary policy in a natural-rate model. Journal of Political Economy, 91, 589–610. CrossRef Barro, R. J., & Gordon, D. B. (1983a). A positive theory of monetary policy in a natural-rate model. Journal of Political Economy, 91, 589–610. CrossRef
go back to reference Barro, R. J., & Gordon, D. B. (1983b). Rules, discretion, and reputation in a model of monetary policy. Journal of Monetary Economics, 12, 101–121. CrossRef Barro, R. J., & Gordon, D. B. (1983b). Rules, discretion, and reputation in a model of monetary policy. Journal of Monetary Economics, 12, 101–121. CrossRef
go back to reference Clarida, R., Galí, J., & Gertler, M. (1999). The science of monetary policy: A new Keynesian perspective. Journal of Economic Literature, 37, 1661–1707. CrossRef Clarida, R., Galí, J., & Gertler, M. (1999). The science of monetary policy: A new Keynesian perspective. Journal of Economic Literature, 37, 1661–1707. CrossRef
go back to reference Grilli, V., Masciandaro, D., & Tabellini, G. (1991). Political and monetary institutions and public financial policies in the industrial countries. Economic Policy, 13, 341–392. CrossRef Grilli, V., Masciandaro, D., & Tabellini, G. (1991). Political and monetary institutions and public financial policies in the industrial countries. Economic Policy, 13, 341–392. CrossRef
go back to reference Rogoff, K. (1985). The optimal degree of commitment to an intermediate monetary target. Quarterly Journal of Economics, 100, 1169–1189. CrossRef Rogoff, K. (1985). The optimal degree of commitment to an intermediate monetary target. Quarterly Journal of Economics, 100, 1169–1189. CrossRef
Metadata
Title
Optimal Monetary Policy
Authors
Jin Cao
Gerhard Illing
Copyright Year
2019
DOI
https://doi.org/10.1007/978-3-030-23618-2_5

Premium Partner