Recent developments in monetary macroeconomics and U.S. dollar policy

William Gavin ()

No 2005-062, Working Papers from Federal Reserve Bank of St. Louis

Abstract: This paper summarizes recent developments in the theory and practice of monetary policy in a closed economy and explains what these developments mean for United States dollar policy. There is no conflict between what is appropriate U.S. monetary policy at home or abroad because the dollar is the world's key currency. Both at home and abroad, the main problem for U.S. policymakers is to provide an anchor for the dollar. Recent experience in other countries suggests that a solution is evolving in the use of inflation targets.

Keywords: Dollar, American; Monetary policy (search for similar items in EconPapers)
Date: 2005
New Economics Papers: this item is included in nep-cba, nep-hpe, nep-ifn, nep-mac and nep-mon
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Journal Article: Recent Developments in Monetary Macroeconomics and US Dollar Policy (2007)
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DOI: 10.20955/wp.2005.062

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