Macroeconomic Policy

Contents\nIntroduction\nPART I. Rules versus Discretion\n1. Developments in the Theory of Rules versus Discretion\n2. A Positive Theory of Monetary Policy in a Natural Rate Model\n3. Rules, Discretion, and Reputation in a Model of Monetary Policy\n4. Inflationary Finance under Discretion and Rules\n5. Reputation in a Model of Monetary Policy with Incomplete Information\nPART II. Money and Business Fluctuations\n6. Intertemporal Substitution and the Business Cycle\n7. Time-Separable Preferences and Intertemporal-Substitution Models of Business Cycles\n8. Interest-Rate Targeting\nPART III. Fiscal Policy\n9. The Ricardian Approach to Budget Deficits\n10. U.S. Deficits since World War I\n11. On the Predictability of Tax-Rate Changes\n12. Output Effects of Government Purchases\n13. Government Spending, Interest Rates, Prices, and Budget Deficits in the United Kingdom, 1701–1918\nIndex