Simple Rules for Monetary Policy

  title={Simple Rules for Monetary Policy},
  author={John C. Williams},
This paper explores two key questions regarding the design and performance of efficient simple monetary policy rules. First, what are the basic features of efficient simple rules? In particular, to what variables should policy respond and by how much? Second, how well do simple rules perform compared to more complicated rules that respond to a larger information set? Or, in other words, what is the cost, measured in terms of stabilizing the economy, of following a simple rule when the best… CONTINUE READING
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Should Monetary Policy Respond Strongly to Output Gaps?” American Economic Review Papers and Proceedings 91(2) (May) pp

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“ Should Monetary Policy Respond Strongly to Output Gaps ?

McCallum, T Bennett
American Economic Review Papers and Proceedings • 2001

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