How Important is Money in the Conduct of Monetary Policy

By Michael Woodford. 2006

317 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/56340d8b2bd3a68b9ed7dbc1aee5ab9d79cfcd8a

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

Citations in the corpus

Maintaining Low Inflation: Money, Interest Rates, and Policy Stance (2007, unknown): “For example, Woodford (2006), using a model where ‘‘trend inflation’’ is specified as a random walk, claims that ‘‘[o]ne does not need to monitor money growth to tell if an undesirable long-run inflation trend is developing; measurement of inflation itself suffices for this’’ (p. 21), arguing that…”
Central Bank Misperceptions and the Role of Money in Interest Rate Rules (2008, unknown): “The case against money is perhaps made ost vigorously by Woodford (2006).”
Heterogeneity in Money Holdings Across Euro Area Countries: The Role of Housing (2011, unknown): “Facts and findings to date The monetary pillar of the ECB's policy framework has been discussed extensively in the academic literature (Gerlach and Svensson, 2003; Gerlach, 2004; Woodford, 2008; Beck andWieland, 2007; Fisher et al., 2008; Berger et al., 2011).”
Monetary Aggregates and Liquidity in a Neo-Wicksellian Framework (2008, unknown): “…aggregates, financial intermediation, or distinctions among various short-term rates that play different roles in the transmission mechanism”.2 And Woodford (2006) discusses the concern of some that neo-Wicksellian models “are coherent as far as they go, but that they are incomplete”.3 2 In…”
Opting Out of the Great Inflation: German Monetary Policy after the Break Down of Bretton Woods (2009, background): “…important insights into the nature of the policy problem by considering the analytical solution to the much simpler static version of 29 For details on the model, see Woodford, 2007, p. 6f. 30 Loss function (4.8) assumes that output is targeted at the natural rate, which is a time-varying variable.”
Convergence in Macroeconomics: Elements of the New Synthesis (2010, methodology): “Rotemberg and Woodford (1997) or Christiano, Eichenbaum, and Evans (2005) estimate the effects of exogenous disturbances to monetary policy and assess the ability of structural models to account for these effects.”