An approach to policy that has the advantage of policy flexibility but also imposes some inherent discipline on policymakers
A policy framework that is believed by the public and reflects a strong commitment to a nominal anchor
Making policy based on what is believed to be the right policy at the moment with no commitment to future actions
Monetary policy based on binding plans that specify how monetary policy will react to particular situations
Group of economists who believe that money is the sole source of fluctuations in demand​ and, therefore, believe that changing monetary policy can destabilize the economy