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The Development of Keynesian Macroeconomics
McCallum, Bennett T. - 2007
This paper provides an outline of the historical development of Keynesian macroeconomics. It first argues that the business-cycle model of J.M. Keynes's General Theory featured analytical ingredients that were present in earlier writings and attained its theoretical precision only in...
Persistent link: https://www.econbiz.de/10012777328
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The Development of Keynesian Macroeconomics
McCallum, Bennett T. - 1987
This paper provides an outline of the historical development of Keynesian macroeconomics. It first argues that the business-cycle model of J.M. Keynes's General Theory featured analytical ingredients that were present in earlier writings and attained its theoretical precision only in...
Persistent link: https://www.econbiz.de/10012476913
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Inflation determination with Taylor rules : is New Keynesian analysis critically flawed?
McCallum, Bennett T. - 2008
Persistent link: https://www.econbiz.de/10003791396
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Inflation Determination with Taylor Rules : Is New Keynesian Analysis Critically Flawed?
McCallum, Bennett T. - 2021
Cochrane (2007) has strongly questioned the basic economic logic of current mainstream monetary policy analysis, arguing that the standard notion --that "determinacy" of a rational expectations (RE) equilibrium suffices to imply that stable inflation behavior will be generated -- is incorrect....
Persistent link: https://www.econbiz.de/10013239190
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Inflation Determination with Taylor Rules : Is New Keynesian Analysis Critically Flawed?
McCallum, Bennett T. - 2008
Cochrane (2007) has strongly questioned the basic economic logic of current mainstream monetary policy analysis, arguing that the standard notion --that "determinacy" of a rational expectations (RE) equilibrium suffices to imply that stable inflation behavior will be generated -- is incorrect....
Persistent link: https://www.econbiz.de/10012464114
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Recent developments in monetary policy analysis : the roles of theory and evidence
McCallum, Bennett T. - 1999
Persistent link: https://www.econbiz.de/10001380005
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Monetary policy in economies with little or no money
McCallum, Bennett T. - 2003
Persistent link: https://www.econbiz.de/10001774919
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Recent Developments in Monetary Policy Analysis : The Roles of Theory and Evidence
McCallum, Bennett T. - 2012
Both academic thinking about monetary economics and the practice of monetary policy have changed drastically since 1971 …
Persistent link: https://www.econbiz.de/10013097225
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Determinacy, Learnability, Plausibility, and the Role of Money in New Keynesian Models
McCallum, Bennett T. - 2012
Recent mainstream monetary policy analysis focuses on rational expectation solutions that are uniquely stable. A number of recent studies have examined the question of whether typical New Keynesian (NK) models, with policy rules that satisfy the Taylor principle, also exhibit solutions with...
Persistent link: https://www.econbiz.de/10013103815
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Recent Developments in Monetary Policy Analysis : The Roles of Theory and Evidence
McCallum, Bennett T. - 1999
Both academic thinking about monetary economics and the practice of monetary policy have changed dramatically since … empirical evidence-or by a combination of the two. Monetary economics, like macroeconomics more generally, passed through the … analysis of monetary policy by both academic and central bank economists has been increasingly conducted in small quantitative …
Persistent link: https://www.econbiz.de/10012471709