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Specification and analysis of a monetary policy rule for Japan
McCallum, Bennett T. - 1993
Persistent link: https://www.econbiz.de/10000874330
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Analysis of the monetary transmission mechanism : methodological issues
McCallum, Bennett T. - 1999
Persistent link: https://www.econbiz.de/10001421646
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Analysis of the Monetary Transmission Mechanism : Methodological Issues
McCallum, Bennett T. - 1999
This paper argues that, in studying the monetary policy transmission process, more emphasis should be given to the systematic portion of policy behavior and correspondingly less to random shocks basically because shocks account for a very small fraction of policy-instrument variability. Analysis...
Persistent link: https://www.econbiz.de/10012471390
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Specification and Analysis of a Monetary Policy Rule for Japan
McCallum, Bennett T. - 1993
This paper investigates the performance, in several small-scale models of the Japanese economy, of an operational monetary policy rule related to ones previously considered for the United States. The rule dictates settings of the monetary base that are designed to produce values of nominal GNP...
Persistent link: https://www.econbiz.de/10012474497
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Specification and Analysis of a Monetary Policy Rule for Japan
McCallum, Bennett T. - 2010
This paper investigates the performance, in several small-scale models of the Japanese economy, of an operational monetary policy rule related to ones previously considered for the United States. The rule dictates settings of the monetary base that are designed to produce values of nominal GNP...
Persistent link: https://www.econbiz.de/10013138705
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Analysis of the Monetary Transmission Mechanism : Methodological Issues
McCallum, Bennett T. - 2021
This paper argues that, in studying the monetary policy transmission process, more emphasis should be given to the systematic portion of policy behavior and correspondingly less to random shocks basically because shocks account for a very small fraction of policy-instrument variability. Analysis...
Persistent link: https://www.econbiz.de/10013212576
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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
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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
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An optimization-based econometric framework for the evaluation of monetary policy
Rotemberg, Julio; Fuhrer, Jeffrey C. - In: NBER macroeconomics annual 12 (1997), pp. 297-346
Persistent link: https://www.econbiz.de/10001254157
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Monetary policy for an open economy : an alternative framework with optimizing agents and sticky prices
McCallum, Bennett T.; Nelson, Edward - 2001
Persistent link: https://www.econbiz.de/10001565804