The Effectiveness of Monetary Policy

Rasche, Robert; Williams, Marcela M.

doi:10.2139/ssrn.763884

Download This Paper

Open PDF in Browser

Add Paper to My Library

The Effectiveness of Monetary Policy

FRB of St. Louis Working Paper No. 2005-048B

77 Pages Posted: 1 Aug 2005

See all articles by Robert Rasche

Robert Rasche

Michigan State University; National Bureau of Economic Research (NBER)

Marcela M. Williams

Federal Reserve Bank of St. Louis, Research Division

Date Written: July 2005

Abstract

The analysis addresses changing views of the role and effectiveness of monetary policy, inflation targeting as an effective monetary policy, monetary policy and short-run (output) stabilization, and problems in implementing a short-run stabilization policy.

Keywords: Monetary policy, Inflation targeting, short-run stabilization policy

JEL Classification: E52

Suggested Citation: Suggested Citation

Rasche, Robert and Williams, Marcela M., The Effectiveness of Monetary Policy (July 2005). FRB of St. Louis Working Paper No. 2005-048B, Available at SSRN: https://ssrn.com/abstract=763884 or http://dx.doi.org/10.2139/ssrn.763884