The economics of money, banking, and financial markets

CHAPTER 24

The Role of Expectations in Monetary Policy 

588

Lucas Critique of Policy Evaluation ........................................................................................588

Econometric Policy Evaluation ........................................................................................... 589

APPLICATION

  The Term Structure of Interest Rates ................................................589

Policy Conduct: Rules or Discretion? ....................................................................................590

Discretion and the Time-Inconsistency Problem ................................................................. 590

Types of Rules ..................................................................................................................... 591

The Case for Rules .............................................................................................................. 591

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