Monetary Policy Rules and Financial Stability

Bennett McCallum

Chapter 9 in Financial Stability in a Changing Environment, 1995, pp 389-438 from Palgrave Macmillan

Abstract: Abstract The subject matter of this chapter is the relationship between the two ultimate goals recognized by most central banks, namely, macro-economic stability and financial-system stability.1 This is an extremely broad topic and one that could be approached by various distinct methods of analysis — evolutionary/historical, welfare theoretic, institutional, etc. But given my own experience relative to others on the program, it seems most appropriate to narrow the scope of the chapter by focusing primarily on one limited but extremely important set of issues.

Keywords: Interest Rate; Monetary Policy; Central Bank; Policy Rule; Fund Rate (search for similar items in EconPapers)
Date: 1995
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Working Paper: Monetary Policy Rules and Financial Stability (1994)
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DOI: 10.1007/978-1-349-13352-9_10

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