David Papell on the History, Motivations, and Current Applications of Monetary Policy Rules
Macro Musings with David Beckworth
00:00
Incorporating the New Framework and History of Monetary Policy Rules
This chapter discusses the incorporation of the new framework into the Taylor rule and explores the history of monetary policy rules, starting with Milton Friedman's non-activist rule. It also highlights John Taylor's standard contract model and the motivation for implementing monetary policy rules.
Transcript
Play full episode
