Cover of: Uncertainties in formulating monetary policy | United States. Congress. House. Committee on Government Operations. Commerce, Consumer, and Monetary Affairs Subcommittee. Read Online

Uncertainties in formulating monetary policy hearing before the Commerce, Consumer, and Monetary Affairs Subcommittee of the Committee on Government Operations, House of Representatives, One Hundred Third Congress, second session, August 10, 1994. by United States. Congress. House. Committee on Government Operations. Commerce, Consumer, and Monetary Affairs Subcommittee.

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Published by U.S. G.P.O., For sale by the U.S. G.P.O., Supt. of Docs., Congressional Sales Office in Washington .
Written in English


  • Board of Governors of the Federal Reserve System (U.S.),
  • Monetary policy -- United States.,
  • Economic forecasting -- United States.,
  • United States -- Economic conditions -- 1981-2001.

Book details:

The Physical Object
Paginationiii, 110 p. :
Number of Pages110
ID Numbers
Open LibraryOL23352706M
ISBN 100160459249

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  The single monetary policy - formulation, implementation and communication Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the 32nd Annual Conference of the Money, Macro and Finance Research Group, South Bank University, London, 8 September   Newspaper articles quote policy-makers, economists, political leaders, or industry experts who refer to uncertainties in relation to monetary policy in their speeches or interviews. For example, "The Federal Open Market Committee, the central bank's top policymaking group, blamed the slowdown in growth largely on falling stock prices and. [Show full abstract] more important for business cycles and monetary policy than previously believed (see Erceg, Henderson and Levin, , Smets . The function of formulating monetary policy includes deciding the approach by which the operational objectives set out in a remit are intended to be achieved. And in a new clause 9, we read The Bank has the function of implementing monetary policy in accordance with this Act.

Most of the recent improvement has come from developing and emerging market economies—groups that previously lacked monetary-policy discipline. By the mids, central banks in key developed countries—notably the United States, England, Japan, and many European countries—regained much of the credibility that they had lost in the : Sandra Pianalto.   In fact, the recognition that all monetary policymakers must bow to the presence of uncertainty appears to underlie Greenspan’s () view that central banks are driven to a “risk-management” approach to policy, whereby policymakers “need to reach a judgment about the probabilities, costs, and the benefits of the various possible. Today I will discuss uncertainty and monetary policy, particularly as it relates to recent inflation developments. Because changes in interest rates influence economic activity and inflation with a substantial lag, the Federal Open Market Committee (FOMC) sets monetary policy with an eye to its effects on the outlook for the economy. Outline I. CtlB kObjtiCentral Bank Objectives II. Mt PliF kMonetary Policy Frameworks This training material is the property of the International Monetary Fund (IMF) and is intended for the use in IMF Size: 1MB.

In recent years the Fed has communicated changes in its monetary policy by announcing changes in its policy targets for the: Federal funds rate. T OR F: The Federal Reserve adheres strictly to the Taylor rule when formulating monetary policy. Simple Monetary Policy Rules and Exchange Rate Uncertainty Article in Journal of International Money and Finance 24(3) April with 44 Reads How we measure 'reads'. Monetary Policy Uncertainty and Economic Fluctuations Drew D. Creal, Jing Cynthia Wu. NBER Working Paper No. Issued in October , Revised in December NBER Program(s):Monetary Economics. We investigate the relationship between uncertainty about monetary policy and its transmission mechanism, and economic fluctuations. IJRING many uncertainties existed in the implementation of monetary policy. Foremost was the likely course of economic activity during the year. Economic forecasters, both private and government, badly misjudged actual economic developments. Fore-casts throughout the year were quite varied and were frequently revised.