Evaluating Policy Regimes
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Evaluating Policy Regimes
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Author : Ralph Bryant
language : en
Publisher: Brookings Institution Press
Release Date : 2010-12-01
Evaluating Policy Regimes written by Ralph Bryant and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-01 with Business & Economics categories.
Economists have long debated the theoretical merits—for an individual nation and for a multi-nation world economy—of alternative approaches to the conduct of economic policy. Yet theory alone cannot resolve the important issues at stake. Only after the robustness of policy regimes has been carefully examined with empirical evidence will policymakers and economists be able to reach more of a consensus. This pathbreaking volume takes major steps forward in meeting the need for a combination of theoretical and empirical evaluations of alternative policy regimes. Bringing together individuals and groups doing pioneering research on macroeconomic interaction, it explores what approach to monetary policy would lead to superior performance by individual national economies and the world economy as a whole. Many parts of the book use the analytical techniques of stochastic simulation, an evaluation procedure increasingly employed at the frontier of empirical economic analysis. The book provides a summary of the hey issues involved in evaluating policy regimes and clarifies the relationships among those issues. The authors examine the stabilization properties of alternative monetary-policy regimes and analyze how well various regime types perform in the face of unexpected shocks to national economies. Among their conclusions, they find that some simplified regimes for monetary policy are markedly less promising than others for achieving the stabilization objectives commonly sought by policymakers. Evaluating Policy Regimes is another major installment in a continuing world wide research project, sponsored by the Brookings Institution, to improve empirical knowledge about the interdependence of national economies.
Evaluating Policy Regimes
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Author : Ralph C. Bryant
language : en
Publisher: Brookings Institution Press
Release Date : 1993
Evaluating Policy Regimes written by Ralph C. Bryant and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.
This pathbreaking volume takes major steps forward in meeting the need from a combination of theoretical and empirical evaluations of alternative policy regimes.
Evaluating Monetary Policy Regimes
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Author : Massimiliano Marzo
language : en
Publisher:
Release Date : 2001
Evaluating Monetary Policy Regimes written by Massimiliano Marzo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
An Evaluation Of Alternative Indicator Regimes For Monetary Policy
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Author : David A. Currie
language : en
Publisher:
Release Date : 1984
An Evaluation Of Alternative Indicator Regimes For Monetary Policy written by David A. Currie and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Econometrics categories.
A Welfare Evaluation Of East Asian Monetary Policy Regimes Under Foreign Output Shock
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Author : Joseph Dennis Alba
language : en
Publisher:
Release Date : 2012
A Welfare Evaluation Of East Asian Monetary Policy Regimes Under Foreign Output Shock written by Joseph Dennis Alba and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Evaluating Public Policy
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Author : Frank Fischer
language : en
Publisher: Wadsworth Publishing Company
Release Date : 1995
Evaluating Public Policy written by Frank Fischer and has been published by Wadsworth Publishing Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Education categories.
Millions of dollars are spent each year on the evaluation of domestic and foreign policies. Policy analysis has emerged as an important component of the policy-making process in American government. This text differs from others--not only does it teach students how to evaluate the empirical aspects of a public policy--but also provides an analytical framework for assessing the value judgements that infuse policy decisions. Students learn to assess whether a program reflects the kinds of things that society ought to be doing.
Monetary Policy Rules
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Author : John B. Taylor
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01
Monetary Policy Rules written by John B. Taylor and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-01 with Business & Economics categories.
This timely volume presents the latest thinking on the monetary policy rules and seeks to determine just what types of rules and policy guidelines function best. A unique cooperative research effort that allowed contributors to evaluate different policy rules using their own specific approaches, this collection presents their striking findings on the potential response of interest rates to an array of variables, including alterations in the rates of inflation, unemployment, and exchange. Monetary Policy Rules illustrates that simple policy rules are more robust and more efficient than complex rules with multiple variables. A state-of-the-art appraisal of the fundamental issues facing the Federal Reserve Board and other central banks, Monetary Policy Rules is essential reading for economic analysts and policymakers alike.
Evaluation Of Currency Regimes
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Author : Assaf Razin
language : en
Publisher:
Release Date : 2010
Evaluation Of Currency Regimes written by Assaf Razin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
This paper tackles two established puzzles in international macroeconomics literature. The first is the lack of systematic difference in the macroeconomic performance across exchange rate regimes. The second is the absence of a clear empirical relationship between macroeconomic performance and capital-account liberalization. We suggest that both may appear because empirical methodologies fail to account for a latent economic quot;crisis state,quot; influenced by exchange-rate and capital account regimes, and to allow the effects of a policy regime on growth to depend on whether the economy is in a crisis-prone latent state. In practice, we model and estimate the latent state of the economy as a crisis probability. In the framework we propose, exchange rate and capital market liberalization regimes can have both a direct effect on short-term growth, and an indirect effect on growth that is channelled through their effects on the crisis probability.
Evaluating Monetary Policy Regimes The Role Of Nominal Rigidities
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Author :
language : en
Publisher:
Release Date : 2001
Evaluating Monetary Policy Regimes The Role Of Nominal Rigidities written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
I compare four basic monetary policy rules belonging to the interest-rate pegging rules class in two different analystical frameworks representing the way through which nominal rigidities are designed. A first model consider the Calvo-Woodford mechanism of price adjustment, as has become customary in the literature on monetary policy rules. A second model, instead, considers the cost of price adjustment function, as proposed by Rotemberg (1982). The two models are simulated to find the optimal monetary policy rule, maximizing the welfare of the representative agent. The results show that the optimal monetary policy rule for the model based on the Calvo price setting method is a simple contemporaneous interest-pegging rule with a lagged nominal interest rate. However, with a model based on the cost of price adjustment, the optimal rule is given by an interest rate rule with a expected inflation, contemporaneous output gap and a lagged interes rate term as arguments. Impulse respnse functions for different vallues of the parameters of the respective optimal monetary poliy function are plotted for both models, for an expansionary public expenditure shock and a contractionary monetary policy shock. The calculation of the model are empirically robust. For the first time fiscal policy is explicitly inserted in the model through a assive tax policy rule. An explicit analysi f about the determinacy of the equilibrium is contained in the model.
Foreign Output Shocks And Monetary Policy Regimes In Small Open Economies
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Author : Joseph D. Alba
language : en
Publisher:
Release Date : 2011
Foreign Output Shocks And Monetary Policy Regimes In Small Open Economies written by Joseph D. Alba and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
