The science and practice of monetary policy today: the Deutsche Bank Prize in financial economics 2007

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 casefor 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. Brings together contributions by leading academics and experienced policy-makers Presentation and evaluation of key elements of the New-Keynesian approach tomonetary policy analysis Lessons and implications for practical policy design INDICE: Editor's Foreword.- The New-Keynesian Approach to Understanding the Economy.- The New-Keynesian Approach in Forecasting and Monetary Policy Design.- Will Monetary Policy Become More of a Science?.- The Deutsche Bank Prize in Financial Economics 2007: Award Ceremony and Scientific Symposium in Honor of Michael Woodford.

• ISBN: 978-3-642-02952-3
• Editorial: Springer
• Encuadernacion: Cartoné
• Páginas: 160
• Fecha Publicación: 12/08/2009
• Nº Volúmenes: 1
• Idioma: Inglés