Central Bank Design

被引:57
|
作者
Reis, Ricardo [1 ]
机构
[1] Columbia Univ, New York, NY 10027 USA
关键词
MONETARY-POLICY; INTEREST-RATES; BALANCE-SHEET; INFLATION; COMMUNICATION; RULES; DISCRETION; FRAMEWORK; CONSENSUS; PRICES;
D O I
10.1257/jep.27.4.17
中图分类号
F [经济];
学科分类号
02 ;
摘要
Starting with a blank slate, how could one design the institutions of a central bank for the United States? This paper explores the question of how to design a central bank, drawing on the relevant economic literature and historical experiences while staying free from concerns about how the Fed got to be what it is today or the short-term political constraints it has faced at various times. The goal is to provide an opinionated overview that puts forward the trade-offs associated with different choices and identifies areas where there are clear messages about optimal central bank design.
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页码:17 / 43
页数:27
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