The economics of money, banking, and financial markets


CHAPTER 24 The Role of Expectations in Monetary Policy  588



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Mishkin, F. (2016) The Economics of Money, Banking, and Financial Markets. 12th edition

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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