伯南克宏观经济学14.pptVIP

The Conduct of Monetary Policy: Rules Versus Discretion Most Keynesian economists support discretion Discretion means the central bank looks at all the information about the economy and uses its judgment as to the best course of policy Discretion gives the central bank the freedom to stimulate or contract the economy when needed; it is thus called activist The Conduct of Monetary Policy: Rules Versus Discretion Monetarists and classical macroeconomists advocate the use of rules Rules make monetary policy automatic, as they require the central bank to set policy based on a set of simple, presp