Monetary Policy Rules

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ISBN: 9780226791265

Acknowledgments
Introduction
John B. Taylor
1. Performance of Operational Policy Rules in an Estimated Semiclassical Structural Model
Bennett T. McCallum and Edward Nelson
Comment: Mark Gertler
Discussion Summary
2. Interest Rate Rules in an Estimated Sticky Price Model
Julio J. Rotemberg and Michael Woodford
Comment: Martin Feldstein
Discussion Summary
3. Policy Rules for Open Economies
Laurence Ball
Comment: Thomas J. Sargent
Discussion Summary
4. Forward-Looking Rules for Monetary Policy
Nicoletta Batini and Andrew G. Haldane
Comment: Donald L. Kohn
Discussion Summary
5. Policy Rules for Inflation Targeting
Glenn D. Rudebusch and Lars E. O. Svensson
Comment: Frederic S. Mishkin
Comment: James H. Stock
Discussion Summary
6. Robustness of Simple Monetary Policy Rules under Model Uncertainty
Andrew Levin, Volker Wieland, and John C. Williams
Comment: Lawrence J. Christiano and Christopher J. Gust
Discussion Summary
7. A Historical Analysis of Monetary Policy Rules
John B. Taylor
Comment: Richard H. Clarida
Discussion Summary
8. What Should the Monetary Authority Do When Prices Are Sticky?
Robert G. King and Alexander L. Wolman
Comment: Benjamin M. Friedman
Discussion Summary
9. Rethinking the Role of NAIRU in Monetary Policy: Implications of Model Formulation and Uncertainty
Arturo Estrella and Frederic S. Mishkin
Comment: Robert E. Hall
Discussion Summary
Contributors
Author Index
Subject Index