Interest and prices : foundations of a theory of monetary policy / Michael Woodford.Material type: TextLanguage: English Publisher: Princeton, N.J. ; New Age International (P) Ltd., Publishers Noida,India Princeton University Press, New Age International (P) Ltd., Publishers c2006Description: xv, 785 p. : ill. ; 24 cmISBN: 0691010498; 8122417183Subject(s): Monetary policyDDC classification: 332.46 WOI Online resources: OCLC | Ebook Fulltext
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|E-Book||EWU Library E-book||Non-fiction||332.46 WOI 2006 (Browse shelf)||Not for loan|
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Includes bibliographical references and index.
The return of monetary rules --
Price-level determination under interest-rate rules --
Optimizing models with nominal rigidities --
A neo-Wicksellian framework for the analysis of monetary policy --
Dynamics of the response to monetary policy --
Inflation stabilization and welfare --
Gains from commitment to a policy rule --
Optimal monetary policy rules.
Offers theoretical foundations for a rule-based approach to monetary policy for a world of communications and efficient financial markets. This book examines the foundations of monetary economics, showing how interest-rate policy can be used to achieve an inflation target in the absence of either commodity control of a monetary aggregate.