N Gregory Mankiw
|描述：||ix, 345 p. : ill. ; 24 cm.|
|内容：||The use of a monetary aggregate to target nominal GDP / Martin Feldstein and James H. Stock --
Nominal income targeting / Robert E. Hall and N. Gregory Mankiw --
Nonstandard indicators for monetary policy : can their usefulness be judged from forecasting regressions? / Michael Woodford --
On sticky prices : academic theories meet the real world / Alan S. Blinder --
What determines the sacrifice ratio? / Laurence Ball --
Measuring core inflation / Michael F. Bryan and Stephen G. Cecchetti. Monetary policy and bank lending / Anil K. Kashyap and Jeremy C. Stein --
Historical perspectives on the monetary transmission mechanism / Jeffrey A. Miron, Christina D. Romer, and David N. Weil --
Federal reserve policy : cause and effect / Matthew D. Shapiro.
|丛书名：||Studies in business cycles, no. 29.|
|责任：||edited by N. Gregory Mankiw.|
Of the nine papers in this volume, the first three evaluate a variety of policy rules based on monetary aggregates, nominal income, commodity prices, and other economic variables. The next three analyze the behavior of prices and inflation with an emphasis on understanding the short-run behavior of prices. The following two chapters examine the monetary transmission mechanism - the channel through which the central bank's actions affect spending on goods and services - with a special focus on the reduction in bank lending that must accompany a reduction in reserves. The final chapter analyzes the causes and effects of the Federal Reserve's shift to an explicitly disinflationary policy, a shift which has been made several times since World War II. This volume makes an important contribution to monetary policy research and will be of special interest to central bankers and academic economists.