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Theory and practice of monetary policy
16 references·1 citing·34 second hop
Theory and practice of monetary policy (2005)Theory and practice of monetary policyThe Optimum Quantity of Money (2017)The Optimum Quantity of Money6. Real Indeterminacy with Financial Assets (2016)6. Real Indeterminacy with Fi…Monetary policy and the financial decisions of firms (2005)Monetary policy and the finan…Monetary policy and price level determinacy in a cash-in-advance economy (1994)Monetary policy and price lev…The Structure of Financial Equilibrium with Exogenous Yields: The Case of Incomplete Markets (1989)The Structure of Financial Eq…ON SOME PROBLEMS OF PROVING THE EXISTENCE OF AN EQUILIBRIUM IN A MONETARY ECONOMY (1989)ON SOME PROBLEMS OF PROVING T…A Positive Theory of Monetary Policy in a Natural-Rate Model (1981)A Positive Theory of Monetary…The Optimum Quantity of Money (1979)The Optimum Quantity of MoneyRules Rather than Discretion: The Inconsistency of Optimal Plans (1977)Rules Rather than Discretion:…"Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule (1975)"Rational" Expectations, the …Expectations and the neutrality of money (1972)Expectations and the neutrali…Optimal Choice of Monetary Policy Instruments in a Simple Stochastic Macro Model (1970)Optimal Choice of Monetary Po…The Theory of Interest Rates. (1965)The Theory of Interest Rates.Liquidity Preference as Behavior Towards Risk (1958)Liquidity Preference as Behav…An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money (1958)An Exact Consumption-Loan Mod…Studies in the Quantity Theory of Money (1957)Studies in the Quantity Theor…The optimality of the Friedman rule when some distorting taxes are exogenous (2007)The optimality of the Friedma…A Program for Monetary Stability (1961)Rational Expectations and the Theory of Price Movements (1961)Aggregate Demand Management in Search Equilibrium (1982)The Role of Monetary Policy (1995)International Norm Dynamics and Political Change (1998)The Institutional Dynamics of International Political Orders (1998)Some International Evidence on Output-Inflation Tradeoffs. (1973)Macroeconomics and Reality (1980)Staggered prices in a utility-maximizing framework (1983)The Science of Monetary Policy: A New Keynesian Perspective (1999)Equilibria under ‘active’ and ‘passive’ monetary and fiscal policies (1991)Rational Asset Pricing Bubbles (1997)Monetary Policy and Multiple Equilibria (2001)The Mirage of Exchange Rate Regimes for Emerging Market Countries (2003)Rational Expectations, the Real Rate of Interest, and the Natural Rate of Unemployment (1973)Decision Making in Political Systems: Veto Players in Presidentialism, Parliamentarism, Multicameralism and Multipartyism (1995)Veto Players. How Political Institutions Work (2003)Rules, discretion and reputation in a model of monetary policy (1983)The Optimal Degree of Commitment to an Intermediate Monetary Target (1985)Public Debt as Private Liquidity (1990)A Monetary Explanation of the Equity Premium, Term Premium, and Risk-Free Rate Puzzles (1996)Macroeconomic Consequences of Remittances (2008)Social Security, Induced Retirement, and Aggregate Capital Accumulation (1974)Noise Trader Risk in Financial Markets (1990)Asset pricing with liquidity risk (2005)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Risk, Return, and Equilibrium: Empirical Tests (1973)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Inflation and Welfare (2000)Serial Correlation as a Convenient Simplification, not a Nuisance: A Comment on a Study of the Demand for Money by the Bank of England (2000)The Theory of Rationally Heterogeneous Expectations: Evidence from Survey Data on Inflation Expectations (2004)Central Banking in Theory and Practice (1998)Asset prices and central bank policy (2000)To Float or to Fix: Evidence on the Impact of Exchange Rate Regimes on Growth (2003)
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References

  • 1977Rules Rather than Discretion: The Inconsistency of Optimal Plans7,896 cited
  • 1972Expectations and the neutrality of money4,826 cited
  • 1958Liquidity Preference as Behavior Towards Risk3,916 cited
  • 1958An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money3,538 cited
  • 1981A Positive Theory of Monetary Policy in a Natural-Rate Model2,177 cited
  • 1975"Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule2,172 cited
  • 1970Optimal Choice of Monetary Policy Instruments in a Simple Stochastic Macro Model1,297 cited
  • 1957Studies in the Quantity Theory of Money812 cited
  • 1994Monetary policy and price level determinacy in a cash-in-advance economy753 cited
  • 2017The Optimum Quantity of Money562 cited
  • 1979The Optimum Quantity of Money231 cited
  • 1989ON SOME PROBLEMS OF PROVING THE EXISTENCE OF AN EQUILIBRIUM IN A MONETARY ECONOMY213 cited
  • 1965The Theory of Interest Rates.212 cited
  • 1989The Structure of Financial Equilibrium with Exogenous Yields: The Case of Incomplete Markets163 cited
  • 20166. Real Indeterminacy with Financial Assets130 cited

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  • 2005Monetary policy and the financial decisions of firms107 cited
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    • 2007The optimality of the Friedman rule when some distorting taxes are exogenous19 cited