Journal Article

Alternative views of the money transmission mechanism: what difference do they make for monetary policy?

JB Taylor

in Oxford Review of Economic Policy

Published on behalf of The Oxford Review of Economic Policy Ltd

Volume 16, issue 4, pages 60-73
Published in print December 2000 | ISSN: 0266-903X
Published online December 2000 | e-ISSN: 1460-2121 | DOI: https://dx.doi.org/10.1093/oxrep/16.4.60
Alternative views of the money transmission mechanism: what difference do they make for monetary policy?

More Like This

Show all results sharing these subjects:

  • Economic Development and Growth
  • Public Economics
  • Political Economy
  • Public Policy

GO

Show Summary Details

Preview

This paper examines how alternative views of the monetary transmission mechanism affect the choice of a monetary policy rule. The main finding is that many different structural models indicate that the same simple monetary policy rule - one in which the central bank's target short-term interest rate reacts to inflation and to real output - would perform well. Such rules work well even in models where the monetary transmission mechanism has a relatively strong exchange-rate channel. The models differ, however, in their implications for more complex monetary rules.

Journal Article.  0 words. 

Subjects: Economic Development and Growth ; Public Economics ; Political Economy ; Public Policy

Full text: subscription required

How to subscribe Recommend to my Librarian

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.