Poole Rules : Implementing Monetary Policy Using Multiple Instruments

This paper identifies zero lower bound risk as key rationale for a monetary policymaker to actively manage the size and composition of its holdings of domestic debt. This is true at all times, including when the zero lower bound does not currently bind. It then provides a simple, optimal rule for the quantity and maturity composition of asset purchases. Using a unique dataset, estimates of the Federal Reserve's balance sheet response function since 2008 are presented. Balance sheet policymaking could be improved by responding more actively to economic growth

MoreLess

Year of publication:	2019
Authors:	Morris, Stephen
Publisher:	[2019]: [S.l.] : SSRN
Subject:	Geldpolitik \| Monetary policy \| Theorie \| Theory \| Wirkungsanalyse \| Impact assessment \| Regelbindung versus Diskretion \| Rules versus discretion \| Geldmengensteuerung \| Monetary targeting

freely available

Full text |

More access options

doi.org

Check Google Scholar

In German libraries (KVK)

I need help

Which error do you want to report?

Report: URL of this record is broken

Please note: Sometimes more than one URL is available for a resource. Please click on "More Options" to display these URLs

Report: Addition of an URL to that resource

Please note: Sometimes more than one URL is available for a resource. Please click on "More Options" to display these URLs

Report: The language(s) of that resource is/are…

Please note: Required language not in the list? Please use comment field

Report: Addition of an identifier to that resource

Report: report typo

Report: Add statement

Report: Add keywords

Please use the commentary box to describe other errors

Would you like to receive a feedback?

Commentary

Please type the code from the image

For general questions please use this address.

Persistent link: https://www.econbiz.de/10012898084