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Comment on ‘The Use of a Monetary Aggregate to Target Nominal GDP’ by Martin Feldstein and James Stock.
The purpose of this paper is to present a simple framework for analyzing the monetary transmission mechanism: the process through which monetary policy decisions are transmitted into changes in real...
Mervyn King’s paper is jam-packed with interesting ideas and good common sense about monetary policy. I admire the clearly stated and rigorous macroeconomic analysis that he applies in this paper. I...
Inflation Targeting and Monetary Policy Rules: Experience and Research.
Comments on ‘Making Policy in a Changing World’ by William C. Brainard and George L. Perry.
Alternative Views of the Monetary Transmission Mechanism: What Difference Do They Make for Monetary Policy?
This paper by David Reifschneider and John Williams is a useful and innovative analysis of monetary policy problems caused by the lower bound of zero on the nominal interest rate. The authors provid...
For a country that chooses not to "permanently" fix its exchange rate through a currency board, or a common currency, or some kind of dollarization, the only alternative monetary policy that can w...
Monetary Policy Modeling: Where Are We and Where Should We Be Going.
Commentary: Understanding the Greenspan Standard.
I am pleased and honored to be here to share my thoughts on the momentous event that occurred on October 6, 1979, and I thank Bill Poole, Bob Rasche, and Dan Thornton for being such gracious hosts...
Commentary on ‘The Rise of Off-Shoring’: It’s Not Wine or Cloth Anymore” by G. Grossman and E. Rossi-Hansberg.
The purpose of this note is to provide some background for a discussion of the monetary policy implications of globalization. By globalization I simply mean the increased mobility and interdependenc...
The Policy Support Instrument: A Key Component of the Recent IMF Reform Movement.
I thank Michael Woodford for writing such a thoughtful and useful paper on monetary policy. It is filled with fascinating ideas and insights, each carefully explained. As befits this final “Looking ...

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