Notas del episodio
Episode Notes: Rethinking Monetary Policy and Independence
Leer más- Introduction:
- Exploration of John H. Cochrane's take on monetary policy strategy, regulation, and central banks' mandates.
- Cochrane's Critique:
- Skepticism on Current Measures:
- Disputes the efficiency of strategies like strongly negative interest rates, extensive quantitative easing, and broad forward guidance as stimulants for economic recovery in the wake of recessions.
- Advocacy for a Price-Level Target:
- Advocates for a shift from the common inflation targeting, arguing that price-level targeting can stabilize economies more effectively and offer clearer intentions from central banks.
- Large Balance Sheet with In ...
- Skepticism on Current Measures: