The Science and Practice of Monetary Policy Today: The Deutsche Bank Prize in Financial Economics 2007

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9783642029523: The Science and Practice of Monetary Policy Today: The Deutsche Bank Prize in Financial Economics 2007
Vom Verlag:

This book presents important aspects of the New-Keynesian theory of monetary policy and its implications for the practical decision making of central bankers today. It brings together several new research contributions that were presented at the scientific symposium on the occasion of the award of the Deutsche Bank Prize in Financial Economics 2007 to Professor Michael Woodford of Columbia University. Woodford received this prize according to the jury in recognition of his fundamental contributions to the theory and practical analysis of monetary policy. The prize jury included Günter Franke, Michael Haliassos, Otmar Issing, Jan Krahnen, Patrick Lane, Lucrezia Reichlin, Reinhardt Schmidt, Lars Svensson, Norbert Walter and Volker Wieland. The first part on “The New-Keynesian Approach to Understanding the Economy” contains two chapters written by Bennett McCallum and Jordi Galí, respectively. McCallum provides an exposition of key elements of the New-Keynesian approach to monetary policy analysis and an appreciation of Woodford’s contributions. Galí further develops several key lessons of this approach and points out important new directions for further research.

Vom Verlag:

This book presents important aspects of the New-Keynesian theory of monetary policy and its implications for the practical decision-making of central bankers today. Bridging the theory and practice of monetary policy, it provides an exposition on the key elements of the New-Keynesian approach, outlines important lessons for policymakers, and points to new directions for further research. Important policy implications of the New-Keynesian approach such as the case for forecast targeting as a strategy for monetary policy, the combination of model-based forecasts with cyclical analysis, and strategies for cross-checking model-based policy recommendations are presented in detail. The book brings together new contributions from leading scientists and experienced policymakers presented at an academic symposium on the occasion of the awarding of the Deutsche Bank Prize in Financial Economics 2007 to Professor Michael Woodford.

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Volker Wieland
Verlag: Springer-Verlag Gmbh Dez 2009 (2009)
ISBN 10: 3642029523 ISBN 13: 9783642029523
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Buchbeschreibung Springer-Verlag Gmbh Dez 2009, 2009. Buch. Buchzustand: Neu. 248x168x17 mm. Neuware - This book presents important aspects of the New-Keynesian theory of monetary policy and its implications for the practical decision making of central bankers today. It brings together several new research contributions that were presented at the scientific symposium on the occasion of the award of the Deutsche Bank Prize in Financial Economics 2007 to Professor Michael Woodford of Columbia University. Woodford received this prize according to the jury in recognition of his fundamental contributions to the theory and practical analysis of monetary policy. The prize jury included Günter Franke, Michael Haliassos, Otmar Issing, Jan Krahnen, Patrick Lane, Lucrezia Reichlin, Reinhardt Schmidt, Lars Svensson, Norbert Walter and Volker Wieland. The first part on The New-Keynesian Approach to Understanding the Economy contains two chapters written by Bennett McCallum and Jordi Galí, respectively. McCallum provides an exposition of key elements of the New-Keynesian approach to monetary policy analysis and an appreciation of Woodford s contributions. Galí further develops several key lessons of this approach and points out important new directions for further research. 145 pp. Englisch. Artikel-Nr. 9783642029523

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