Political pressures and the choice of the optimal monetary policy instrument james

Journal of Economics and Business

Volumn 52, Issue 4, 2000, Pages 325-341

  Cover, P ^a   VanHoose, David D ^a  

^a UNIVERSITY OF ALABAMA   (United States)

Author keywords

Monetary policy instruments; Monetary politics; Optimal monetary policy

Indexed keywords

EID: 15944422610     PISSN: 00129933     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (13)

1. Balke, N. S., and Emery, K. M. Winter 1994. The algebra of price stability. Journal of Macroeconomics 16:77-97.
2. Ball, L. June 1992. Why does high inflation raise inflation uncertainty? Journal of Monetary Economics 29:371-388.
3. Barro, R. J., and Gordon, D. B. April 1983. A positive theory of monetary policy in a natural rate model. Journal of Political Economy 91:589-610(a).
4. Barro, R. J., and Gordon, D. B. July 1983. Rules, discretion, and reputation in a model of monetary policy. Journal of Monetary Economics 12:101-121(b).
5. Benavie, A., and Froyen, R. May 1983. Combination policies to stabilize prices and output under rational expectations. Journal of Money, Credit, and Banking 15:186-198.
6. Bennett, P., and Hilton, S. April 1997. Falling reserve balances and the Federal funds rate. Federal Reserve Bank of New York Current Issues in Economics and Finance 3.
7. Board of Governors of the Federal Reserve System. February 1981. Federal Reserve Staff Study. New Monetary Control Procedures.
8. Carlstrom, C., and Fuerst, T. November 1995. Interest rate rules versus money growth rules: A welfare comparison in a cash-in-advance economy. Journal of Monetary Economics 36:247-267.
9. Sellon, G., Jr., and Weiner, S. 4th Quarter, 1996. Monetary policy without reserve requirements: Analytical issues. Federal Reserve Bank of Kansas City Economic Review. 81:5-24.
10. Svensson, L. August 1999, Part 1. Price-level targeting versus inflation targeting: A free lunch? Journal, of Money, Credit, and Banking 31:277-295.
11. Thornton, D. January/February 1988. The borrowed-reserves operating procedure: Theory and evidence. Federal Reserve Bank of St. Louis Review. 70:30-50.
12. VanHoose, D., and Humphrey, D. (in press). Sweep accounts, reserve management, and interest rate volatility. Journal of Economics and Business.
13. Walsh, C. March 1995. Optimal contracts for central bankers. American Economic Review 85:150-167.