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Comments on ‘Rules, Discretion and Reputation in a Model of Monetary Policy’ by R.J. Barro and D.B. Gordon
Reputation Monetary Policy
2015/8/5
Comments on ‘Rules, Discretion and Reputation in a Model of Monetary Policy’ by R.J. Barro and D.B. Gordon.
Comments on ‘Rules, Discretion and Reputation in a Model of Monetary Policy’ by R.J. Barro and D.B. Gordon
Reputation Monetary Policy
2015/8/5
Comments on ‘Rules, Discretion and Reputation in a Model of Monetary Policy’ by R.J. Barro and D.B. Gordon.
Discretion Versus Policy Rules in Practice.
Aldrich blamed the Federal Reserve’s easy-money policies of the 1920s
for helping to cause the Great Depression. In the late ’40s, he was concerned
that the Fed would monetize the enormous World War...
This lecture starts with a review of historical trends in the balance between rules
and discretion: first toward more discretionary policies in the 1960s and 1970s;
second toward more rules-based po...
Monetary Policy Rules Work and Discretion Doesn’t: A Tale of Two Eras
monetary policy rules discretion
2015/8/3
This lecture examines monetary policy during the past three decades. It
documents two contrasting eras: first a Rules-Based Era from 1985 to 2003
and second an Ad Hoc Era from 2003 to the present. D...
Looking back at actual U.S. macroeconomic policy during this period,
I see major swings in the balance between rules and discretion, first away
from discretion toward rules-based policies and then b...
Discretion Within the Constraints of Opportunity:Gender Homophily and Structure in a Formal Organization
Interactive Communication Data and Data Sets Organizational Structure Partners and Partnerships Behavior Online Technology Theory Information Technology Industry
2015/4/24
Homophily in social relations is widely documented. We know that homophily results from both individual preferences and uneven opportunities for interaction, but how these two mechanisms interact in f...
Democratizing the Criminal: Jury Nullification as Exercise of Sovereign Discretion over the Friend-Enemy Distinction
Carl Schmitt Criminal Law Democracy Jury Nullification Rule of Law Sovereignty
2014/10/17
This dissertation examines jury nullification - the ability of American juries in particular criminal cases to ignore or override valid law to be applied to defendants by acquitting them in cases in w...
Fundamental Research on the Administrative Discretion Standard
Administrative Discretion Standard The Standard of Interpretation The Standard of Procedure The Standard of “Requirements-Effect”
2013/1/31
This paper describes a system for the analysis of the administrative discretion standard. Now, it is a new phenomenon in the practice of administrative law enforcement. We shall first briefly introduc...
Fundamental Research on the Administrative Discretion Standard
Administrative Discretion Standard The Standard of Interpretation The Standard of Procedure
2013/9/16
This paper describes a system for the analysis of the administrative discretion standard. Now, it is a new phenomenon in the practice of administrative law enforcement. We shall first briefly introduc...
Market Discipline and Supervisory Discretion in Banking: Reinforcing or Conflicting Pillars of Basel II?
supervisory-process pillars capital requirements pillar implementation academic research
2011/10/29
The market-discipline and supervisory-process pillars of the Basel II framework are less discussed than the framework's capital requirements pillar. Both theoretical predictions and empirical findings...
Rules vs. Discretion in Monetary Policy
Monetary Policy stable money monetary regime economic policy
2008/12/17
In this paper I will take the phrase “stable money” to mean a
monetary regime that insures zero inflation on the average over long
periods, small variations (if any) in the price level over short pe...
MISCONCEPTIONS REGARDING RULES VS.DISCRETION FOR MONETARY POLICY
MONETARY POLICY Jackson Hole annual symposiums Federal Reserve Bank
2008/11/7
Shortly after the most recent of the famous annual symposiums at
Jackson Hole, sponsored by the Federal Reserve Bank of Kansas City,
one of my colleagues asked me if I had seen the New York Times an...