文章基本信息

标题：Optimal Monetary Policy Design: Rules versus Discretion Again
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作者：A. Steven Englander
期刊名称：Federal Reserve Bank of New York - Quarterly Review
印刷版ISSN：0147-6580
出版年度：1990
卷号：15
期号：3-4
出版社：Federal Reserve Bank of New York
摘要：Should monetary authorities rely primarily on rules or their own discretion in conducting monetary policy? The debate has recently been revived by researchers who claim that discretionary monetary policy tempts policy makers to exploit a short-run trade-off between output and inflation and thereby leads to higher inflation expectations. This article evaluates the arguments advanced in support of these views and tests them against the empirical evidence