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Nominal GDP targeting : policy rule or discretionary splurge?

McCallum, Bennett T. - In: Journal of financial stability 17 (2015), pp. 76-80

Persistent link: https://www.econbiz.de/10011574077

Chapter 3. Money and Inflation : Some Critical Issues

McCallum, Bennett T.; Nelson, Edward - In: Handbook of monetary economics : volume 3, (pp. 97-153). 2010

We consider what, if any, relationship there is between monetary aggregates and inflation, and whether there is any … paribus unitary relationship between inflation and money growth. Simulations of a New Keynesian model suggest that we should … allowance needed for the phase shift in the relationship between monetary growth rates and inflation. While financial innovation …

Persistent link: https://www.econbiz.de/10014025677

Some issues concerning interest rate pegging, price level determinacy, and the real bills doctrine

McCallum, Bennett T. - In: Journal of monetary economics 17 (1986) 1, pp. 135-160

Persistent link: https://www.econbiz.de/10001025067

Theoretical analysis regarding a zero lower bound on nominal interest rates

McCallum, Bennett T. - 2000

Persistent link: https://www.econbiz.de/10001472851

Price Level Determinacy with an Interest Rate Policy Rule and Rational Expectations

McCallum, Bennett T. - 2021

This paper reconsiders a result obtained by Sargent and Wallace, namely, that price level indeterminacy obtains in their well-known model if the monetary authorities adopt a policy feedback rule for the interest rate rather than the money stock. Since the Federal Reserve seems often to have used...

Persistent link: https://www.econbiz.de/10013219724

Price level determinacy with an interest rate policy rule and rational expectations

McCallum, Bennett T. - 1980

Persistent link: https://www.econbiz.de/10009573663

Price Level Determinacy with an Interest Rate Policy Rule and Rational Expectations

McCallum, Bennett T. - 1980

Persistent link: https://www.econbiz.de/10012478574

Theoretical analysis regarding a zero lower bound on nominal interest rates

McCallum, Bennett T. - In: Journal of money, credit and banking : JMCB 32 (2000) 4,2, pp. 870-904

Persistent link: https://www.econbiz.de/10001537691

Banking and Interest Rates in Monetary Policy Analysis : A Quantitative Exploration

Goodfriend, Marvin - 2007

The paper reconsiders the role of money and banking in monetary policy analysis by including a banking sector and money in an optimizing model otherwise of a standard type. The model is implemented quantitatively, with a calibration based on U.S. data. It is reasonably successful in providing an...

Persistent link: https://www.econbiz.de/10012465446

Theoretical Analysis Regarding a Zero Lower Bound on Nominal Interest Rates

McCallum, Bennett T. - 2000

; the magnitude of effects of low sustained inflation on real interest rates; the validity of analyzing monetary policy in …

Persistent link: https://www.econbiz.de/10012471090