From Hugo Domic
Almost all Economic Blogs for the couple years have been discussing the actions of the FED, what’s good, what’s not, what the models say, what they don’t, etc.
Usually no references are given, because is supposed to be common knowledge, but we think that the basic and fundamental papers on this issues should be really diffused so that everyone is on the same grounds.
Thus some major papers:
Barro-Gordon: Rules, Discretion and Reputation
A “study guide”: http://www.econ.upf.edu/~costain/theory4/bg.pdf
Svensson: Inflation forecasting targeting
http://scholar.google.fr/scholar_url?hl=fr&q=http://citeseerx.ist.psu.edu/viewdoc/ download%3Fdoi%3D10.1.1.9.531%26rep%3 Drep1%26type%3Dpdf&sa=X&scisig=AAGBfm1alXL3XC125PTAW7fA7LCK-JmwsQ&oi=scholarr&ei=x1R4T9WcHJDA8QOwpJydDQ&ved=0CCAQgAMoADAA
These helps you grasp part of the discussion, many more articles are available, from Bernanke himself and others major researchers. But this two resume the basic discussion.