Research Discussion Paper – RDP 8905 Monetary Policy Instruments: A Theoretical Analysis
July 1989
Contents
- Introduction
- Price Level Determination in a Simple Model
- Choosing an Optimal Policy Rule
- Simple Rules of Thumb for Interest Rate Policy?
- Price Targets or Nominal Income Targets?
- Targets with and without Base Drift
- Conclusion
- References
Endnote
The views expressed herein are those of the author and do not necessarily reflect those of the Reserve Bank of Australia. [*]