Macro Musings with David Beckworth cover image

Marc Giannoni on the Fed’s Framework Review, it’s Independence, and the Future of R-Star

Macro Musings with David Beckworth

00:00

Is Policy 'Less Powerful' or More Effective?

Discussion of Giannoni's 2006 paper: apparent weakening of monetary-policy effects often reflects successful stabilization and identification challenges, not reduced policy potency.

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