Monetary Policy: Some Theory and Evidence
journal contributionposted on 1983-01-01, 00:00 authored by Allan MeltzerAllan Meltzer
Few topics have a larger or more rapidly growing literature than monetary policy. The literature has wide diversity, ranging from highly abstract analyses of optimal money growth to the commentary ground out daily or weekly by central bank watchers in many countries. 1 In between are such issues as the choice of rules over discretion, the strategies and tactics of monetary action, the advantages of activism and, recently, the positive analysis of policymakers' decisions.