Journal article icon

Journal article

The Assessment: Macroeconomic Policy.

Abstract:

This paper describes the emerging consensus about the "reaction function" approach to macroeconomic policy. The first section of the paper describes the historical emergence of this consensus, as a synthesis of pre-Keynesian, Keynesian, and monetarist ideas. The theoretical part of the paper presents the basic framework of the approach and explains a number of extensions, including: finding the optimal reaction function, avoiding the problem of inflation bias, the relevance of the Taylor rule...

Expand abstract

Actions


Authors


Journal:
Oxford Review of Economic Policy
Volume:
16
Publication date:
2000-01-01
URN:
uuid:396769a8-88ea-40d4-af03-2acf248299eb
Local pid:
oai:economics.ouls.ox.ac.uk:11269
Language:
English

Terms of use


Metrics


Views and Downloads






If you are the owner of this record, you can report an update to it here: Report update to this record

TO TOP