Guides to monetary policy in a global economy

Article Abstract:

Aspects of the global economy that have become important since the 1980s in the way they affect monetary policy are examined. Topics include telecommunication and information processing innovations, role of computers in financial institutions, deregulation and integration of markets, difficulty in establishing cross-border measurements for financial transactions, unchanging principles such as the relationship between inflation and monetary policy, and the importance of price stability.

World, Finance, Globalization

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Monetary policy in the face of uncertainty

Article Abstract:

Issues concerning the impact of uncertainty on monetary policy are examined, focusing on the economic forces considered by US monetary policy in the late 20th-century and the need to continue to learn from and adapt to evolving economic processes. Topics include the low inflation and high productivity of the late 20th century, the growing budget surplus, the benefits of technological innovation, and the inevitability of change in productivity rates.

Uncertainty

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Does the "new" economy call for a "new" monetary policy?

Article Abstract:

Issues concerning the unchanging aspects of the "new" economy, how to distinguish them from the changing aspects, and how the understanding of the difference affects the formulation of monetary policy, are examined. Topics include the role of the Federal Reserve, price control, and the impact of productivity on monetary policy.

United States. Federal Reserve Board, Powers and duties, Price control, Price regulations

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