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International monetary economics
McCallum, Bennett T. - 1996
Persistent link: https://www.econbiz.de/10013478060
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Michael Woodford's contributions to monetary economics
McCallum, Bennett T. - In: The science and practice of monetary policy today : the …, (pp. 3-8). 2010
Persistent link: https://www.econbiz.de/10003920583
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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
aggregates at all. We begin by considering the body of thought known as the “quantity theory of money.” The quantity theory … the nominal money stock. The nominal homogeneity conditions that deliver the quantity-theory result are the same as those … that deliver monetary neutrality, an important principle behind policy formulation. The quantity theory implies a ceteris …
Persistent link: https://www.econbiz.de/10014025677
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Can learnability save new-Keynesian models?
Cochrane, John H. - In: Journal of monetary economics 56 (2009) 8, pp. 1109-1113
Persistent link: https://www.econbiz.de/10003976930
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The role of money in New-Keynesian models
McCallum, Bennett T. - 2012
Persistent link: https://www.econbiz.de/10009664720
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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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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/10012460445
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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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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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Monetary policy in East Asia : the case of Singapore
McCallum, Bennett T. - In: Monetary and economic studies 25 (2007), pp. 13-28
Persistent link: https://www.econbiz.de/10003603348