{"title":"Uncertainty and monetary policy","authors":"Richard Dennis","doi":"10.7551/mitpress/9470.003.0017","DOIUrl":"https://doi.org/10.7551/mitpress/9470.003.0017","url":null,"abstract":"Since uncertainty is such an important issue for policymakers it should come as no surprise that economists have made a study of its various guises and developed formal techniques to help understand and mitigate its effects. In this Letter I discuss, in broad-brush terms, some of these techniques and their implications for the conduct of monetary policy.","PeriodicalId":169480,"journal":{"name":"FRBSF Economic Letter","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134110709","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Describing Fed Behavior","authors":"J. Judd, Glenn D. Rudebusch","doi":"10.4324/9780429270949-20","DOIUrl":"https://doi.org/10.4324/9780429270949-20","url":null,"abstract":"Describing the reasons for the policy actions of the Federal Reserve has long been a popular topic for economists, economic journalists, investors, and others. In particular, there is keen interest in what economists call the Fed’s implied “reaction function,” which models how the Fed sets monetary policy in response to conditions in the economy. This interest is not surprising given that the reaction function can provide insight into possible future changes in the stance of Fed policy. Also, within the context of a model of the economy, a reaction function provides a basis for evaluating monetary policy (as in Rudebusch and Svensson 1998), as well as for understanding the effects of other policies (for example, scal policy) or economic shocks (for example, the 1970s oil embargo) that may FRBSF Economic Letter","PeriodicalId":169480,"journal":{"name":"FRBSF Economic Letter","volume":"23 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122277369","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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