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

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

Robert Rasche (Contact Author)

Michigan State University ( email )

East Lansing, MI 48824
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Marcela M. Williams

Federal Reserve Bank of St. Louis, Research Division ( email )

411 Locust St
Saint Louis, MO 63011
United States

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