内容

目次

Acknowledgments; Introduction; Outline of the two lectures; Firstlecture: Monetary Policy in Uncharted Territory. 1. Introduction; 2.Uncharted territory: unique historical events; 3. Achieving price stability;4. Avoiding excess volatility in inflation, output and the interest rate; 5.Pragmatic monetarism: The Bundesbank; 6. A stability-oriented strategy: theECB; 7. Conclusions. Second lecture: Imperfect Knowledge, Learning andConservatism. 1. Introduction; 2. Time inconsistency, cost-push shocks andRogoff's conservatism; 3. Empirical output gap uncertainty; 4. Output gapuncertainty, learning and conservatism; 5. Different degrees of CB'sknowledge and information; 6. Conclusions; References.