THE SCIENCE AND PRACTICE OF MONETARY POLICY TODAY WIELAND V. EDITOR Księgarnia

This book presents important aspects of the New-Keynesian theory of monetary policy and its implications for the practical decision-making of central bankers today.

Bridging the theory and practice of monetary policy, it provides an exposition on the key elements of the New-Keynesian approach, outlines important lessons for policymakers, and points to new directions for further research. Important policy implications of the New-Keynesian approach such as the case for forecast targeting as a strategy for monetary policy, the combination of model-based forecasts with cyclical analysis, and strategies for cross-checking model-based policy recommendations are presented in detail.

The book brings together new contributions from leading scientists and experienced policymakers presented at an academic symposium on the occasion of the awarding of the Deutsche Bank Prize in Financial Economics 2007 to Professor Michael Woodfor

Table of Contents

Editor's Foreword Volker Wieland V

The New-Keynesian Approach to Understanding the Economy

Michael Woodford's Contributions to Monetary Economics Bennett T. McCallum 03

The New-Keynesian Approach to Monetary Policy Analysis: Lessons and New Directions Jordi Gal? 09

The New-Keynesian Approach in Forecasting and Monetary Policy Design

The Case for Forecast Targeting as a Monetary Policy Strategy Michael Woodford 23

Incorporating Conjunctural Analysis in Structural Models Domenico Giannone Francesca Monti Lucrezia Reichlin 41

Money in Monetary Policy Design: Monetary Cross-Checking in the New-Keynesian Model Guenter Beck Volker Wieland 59

Will Monetary Policy Become More of a Science?

Will Monetary Policy Become More of a Science? Frederic S. Mishkin 81

The Deutsche Bank Prize in Financial Economics 2007: Award Ceremony and Scientific Symposium in Honor of Michael Woodford

The Award of the Deutsche Bank Prize 2007 Josef Ackermann 107

Opening Speeches at the Scientific Symposium Volker Wieland 111

Hermann-Josef Lamberti 113

Summary of the Scientific Symposium ?The Theory and Practice of Monetary Policy Today" Celia Wieland 117

The Theory and Practice of Monetary Policy Today - Successes, Failures and Open Questions

Norbert Walter 131

Stefan Gerlach 135

Patrick Lane 139

Otmar Issing 143

146 pages, Hardcover

Po otrzymaniu zamówienia poinformujemy,
czy wybrany tytuł polskojęzyczny lub anglojęzyczny jest aktualnie na półce księgarni.