Kuroda says policy rules deserve further research
"Incomplete contract theory" could be important in building a set of rules
Central banks could act more predictably and effectively if they developed a more comprehensive framework of policy rules, Bank of Japan governor Haruhiko Kuroda said today (June 20).
Central bankers in the past have "essentially stumbled along", Kuroda told an audience at Keio University. In the US, Europe and Japan, central banks have dealt with the complicated environment by setting policy in an ad hoc fashion.
The BoJ governor acknowledged the world is "full of uncertainty", making it hard
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