How the World Achieved Consensus on Monetary Policy

By Marvin Goodfriend. 2007

391 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/b7e1a0189a7c85630f6d028a0a02a433c1ef4e3b

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Citations in the corpus

The Politics of Monetary Policy (2010, background): “1See Goodfriend (2007) for a discussion of how such consensus was reached.”
New Consensus Macroeconomics: A Critical Appraisal (2009, positive): “Goodfriend (2007) also argues that this particular set of propositions, amongst many other, have been backed by actual monetary policy experience in the US, and other countries around the globe, following the abandonment of money supply rules in the early 1980s.(3) Academic contributions also helped”
Moving to a New Global Competitiveness Index (2008, background): “22 Levine and Renelt 1992; Temple 2000; Barro 2002b. 23 Goodfriend 2007.”
DSGE Models and Central Banks (2009, neutral): “1 See Gali and Gertler (2007), Goodfriend (2007) and Mankiw (2006) for a historical overview of how macroeconomists reached what is now considered a new consensus or "new neoclassical synthesis".”
Monetary Policy, Term Structure and Asset Return: Comparing REIT, Housing and Stock (2011, background): “21Among others, Goodfriend and King (2005) and Goodfriend (2007) provides a summary of the history of monetary policy during that period.”
More is different ... and complex! the case for agent-based macroeconomics (2019, background): “Keywords: Macroeconomics, Economic Policy, Keynesian Theory, New Neoclassical Synthesis, New Keynesian Models, DSGE Models, Agent-Based Evolutionary Models, Complexity Theory, Great Recession, Crisis.”
Interest rates, distribution and capital accumulation – A post-Kaleckian perspective on the US and Germany (2011, methodology): “Our results can thus be seen as a development of the findings by Hein/Ochsen (2003) who identify a ‘normal regime’ for Germany from the 1960s to the mid 1990s, but do not find any response of the rates of capacity utilisation, capital accumulation and profits with respect to the rate of interest for”
More effective than we thought: Central bank independence and inflation in developing countries (2020, positive): “Since the late 1980s, central bank independence – that is, allowing central banks to control monetary instruments without political interference – became the key institutional recipe to fight inflation, and inspired a wave of reforms in central banks around the world (Goodfriend, 2007).”
Identification in Macroeconomics (2017, background): “Monetary policy during the 1970’s is ofter described as “stop-go”—tight when the public was exercised about inflation and loose when the public was exercised about unemployment (Goodfriend, 2007).”
Macroeconomic Policy in DSGE and Agent-Based Models (2012, neutral): “In a nutshell, the canonical model employed by the NNS paradigm is basically a RBC dynamic stochastic general equilibrium (DSGE) model with monopolistic competition, nominal imperfections and a monetary policy rule (see Clarida et al., 1999; Woodford, 2003; Gaĺı and Gertler, 2007, for a more detail”
Using monetary policy to stabilize economic activity (2009, background): “This discussion sets the stage for an examination in section 3 of monetary policy when the policy interest rate has fallen to zero.”