Search Results
Conference Paper
Macroeconomic implications of the new economy : commentary
Conference Paper
Commentary : understanding the Greenspan standard
Journal Article
Panel discussion
"The Importance of Being Predictable" by John B. Taylor -- "Monetary Policy Under Uncertainty" by Ben S. Bernanke -- "The Importance of Being Predictable" by William Poole
Working Paper
The Federal Reserve in a globalized world economy
This paper starts from the theoretical observation that simple rules-based monetary policy will result in good economic performance in a globalized world economy and the historical observation that this occurred during the Great Moderation period of the 1980s and 1990s. It tries to answer a question posed by Paul Volcker in 2014 about the global repercussions of monetary policies pursued by advanced economy central banks in recent years. I start by explaining the basic theoretical framework, its policy implications, and its historical relevance. I then review the empirical evidence on the ...