Brief Outline of Topics Covered in Lecture 22
Chapter 23 Monetary Policy Theory [continued]
Is inflation always a monetary phenomenon?
Causes of inflationary monetary policy
Chapter 24 The Role of Expectations in Monetary Policy [probably won't get this far]
The Lucas Critique of Econometric Policy Evaluation
Rules versus Discretion
- Discretion and Time-Inconsistency
- Types of rules
- The case for rules
- The case for discretion
- Constrained Discretion
Extra Reading
- The Startling Story behind a Famous Footnote - Economic Principals
- The Great Recession: Moving Ahead - Stan Fischer
- Unemployment, and product and labour-market tightness - vox
- EPI and AEI Agree: Cutting Benefits Did Not Boost Employment - EPI
- Inequality -- a key issue of economic research - Lindau Nobel Meetings
- Owners’ Equivalent Rent Inflation Is Probably Not a Blip - Cleveland Fed
- Who is Holding the Large-Denomination Bills? - Tim Taylor
- Competition amongst cryptocurrencies and exchanges - Digitopoly
- Part-Time Worker Levels Remain a Concern - St. Louis Fed
- Are We There Yet? - macroblog
