1. Limits of Monetary Policy in Theory and Practice
- Author:
- Vincent R. Reinhart and Carmen M. Reinhart
- Publication Date:
- 09-2011
- Content Type:
- Journal Article
- Journal:
- The Cato Journal
- Institution:
- The Cato Institute
- Abstract:
- The Federal Reserve's conduct of monetary policy casts a spell over market participants, commentators, and academics. The pages of financial newspapers parse subtle differences among the comments of Fed officials and delve deeply into potentially multiple meanings of official statements. Academic discussions argue that the path of the policy rate may (as in Taylor 2009) or may not (as in Bernanke 2010, and Greenspan 2010) have fueled a home-price bubble in the United States.
- Topic:
- Monetary Policy
- Political Geography:
- United States