In this paper, James Bullard reviews the recent evidence on the long-run neutrality and superneutrality of money. Bullard restricts his attention primarily to several papers assessing the time-series evidence using techniques due to Fisher and Seater (1993) and King and Watson (1997).

Northwest Arkansas Convention Center, Rogers, Ark, June 4, 2008

Wisconsin School of Business, Madison, Wis., June 6, 2008

Macroeconomics Advisers' Quarterly Outlook Meeting, St. Louis, June 11, 2008

Delivered at the Business Today "Weathering the Storm: The Challenges and Opportunities of A Global Slowdown" Conference, New York City, November 22, 2009

Regional Economic Summit, Evansville, Ind., Nov. 20, 2008

We study the welfare cost of inflation in a general equilibrium life cycle model with growth, costly financial intermediation, and taxes on nominal quantities. We find a stationary equilibrium of the model matches a wide variety of facts about the postwar U.S. economy. We then calculate that the...