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Monetary Policy : Goals and Strategy
Oleh:
Yellen, Janet L.
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
BUSINESS ECONOMICS vol. 31 no. 3 (1996)
,
page 40-44.
Topik:
MONETARY POLICY
;
monetary policy
;
goals
;
strategy
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
BB20.3
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
In addition to a primary long - term goal of price stability, monetary policy should aim to stabilize output and employment. A managing strategy might include adjusting the federal funds rate above an equilibrium rate by an amount that depends on the deviation between actual and potential output and between actual and targeted inflation. While such a rule could provide a useful benchmark, flexibility in managing policy is required. While the federal reserve act is not seriously flawed, reforming it to provide an improved framework for the federal reserve to specify its strategy to attain legislated goals would be desirable. However, focusing on price stability alone would be a cause for concern.
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