SPÔSOB VÝKONU MENOVEJ POLITIKY – MENOVÉ PRAVIDLÁ, ALEBO DISKRÉTNE OPATRENIA?

• Authors: Mičúch Marek

Title variants

EN

Monetary policy implementation – policy rules or discretion?

• Languages of publication: SK

Abstracts

EN

Paper deals with theoretical debate on various approaches to monetary policy. It introduces ideas of two economic schools emphasizing monetary policy rules contrary to discretion. Proposed arguments reflect standpoints of on-going debate from 20th century up to present days. Source of theoretical arguments advocating policy rules are economic schools of monetarism and rational expectations. On the other hand, swig to discretion defend schools of Keynesianism. Summarized are key arguments of the both. The article contributes to academic debate even in situation of impaired competences of local central bank in domain of monetary policy.

Keywords

EN

MONETARY POLICY; RULES; DISCRETION; IMPLEMENTATION

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2011
• Volume: 59
• Issue: 3
• Pages: 296 – 309

Contributors

author

Mičúch Marek

• Vysoká škola ekonomická v Praze, Národohospodářská fakulta, Katedra ekonomie, Nám. W. Churchilla 4, 130 67 Praha 3, Czech Republic