A Prescription for Monetary Policy: Proceedings from a Seminar Series

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The Minerva Group, Inc., 2001 - Business & Economics - 112 pages
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"A Prescription for Monetary Policy," originally published in 1976, contains the proceedings from a series of seminars. The seminars addressed the question, "How should the Federal Open Market Committee (FOMC) make monetary policy?" The need to carefully reexamine this question gained in urgency as the economic distress story of the mid-1970s unfolded. In recognition of the unsatisfactory state of the economy, a major Federal Reserve System research program was launched under the auspices of the FOMC?s Committee on the Directive. The study?s objective was to produce for the FOMC?s consideration a set of recommendations on how to improve the execution of monetary stabilization policy.
 

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Contents

A Critique
19
On Macroeconomic Theories and Models
43
Testing for Neutrality and Rationality
65
Microeconomic Theories of Macroeconomic Phenomena
87
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