El marco teórico de la política monetaria

• Autores: Francisco Rosende R.
• Localización: Revista de análisis económico, ISSN-e 0718-8870, ISSN 0716-5927, Vol. 19, Nº 2, 2004, págs. 85-118
• Idioma: español
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• Resumen

  • This paper reviews Ihe recent literature on monetary policy rules. In particular, we discuss the theoretical framework underlying dífferenf monetary policy sfrafegies. Currently, many central banks are implementing a scheme of monetary policy where the main instrumenf and indicator of it, is a short-run inferesf rafe, la this scheme monetary aggregafes have no place. Since this point of view, the well known Monetary Theory of Nominal income (MTNI) seems fo be obsolete. In this paper we analyze how far of this approach -the MTNI- has moved the practice of monetay policy. In particular, we discuss the theoretlcal framework of the so called "new keynesian synthesls