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Monetary policy rules and oil price shocks
Kamps, Christophe; Pierdzioch, Christian - 2002
This paper studies the relative performance of alternative monetary policy rules in the presence of oil price shocks in a small open economy optimizing model. Our analysis shows that it is important to distinguish between alternative price indices (CPI, core CPI, and GDP deflator) when modeling...
Persistent link: https://www.econbiz.de/10011474645
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International Policy Coordination and Simple Monetary Policy Rules
Berger, Wolfram - 2008
price indices is dominated by rules that allow for some fluctuations in prices such as nominal income or monetary targeting …
Persistent link: https://www.econbiz.de/10012773814
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Nominal income targeting in an open-economy optimizing model
McCallum, Bennett T.; Nelson, Edward - In: Journal of monetary economics 43 (1999) 3, pp. 553-578
Persistent link: https://www.econbiz.de/10001447668
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Nominal income targeting in an open-economy optimizing market
McCallum, Bennett T.; Nelson, Edward - 1998
Persistent link: https://www.econbiz.de/10000672838
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Monetary policy for an open economy : an alternative framework with optimizing agents and sticky prices
McCallum, Bennett T.; Nelson, Edward - In: Oxford review of economic policy 16 (2000) 4, pp. 74-91
Persistent link: https://www.econbiz.de/10001588239
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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
The 'new open-economy macroeconomics' seeks to provide an improved basis for monetary and exchange-rate policy through the construction of open-economy models that feature rational expectations, optimizing agents, and slowly adjusting prices of goods. This paper promotes an alternative approach...
Persistent link: https://www.econbiz.de/10014134284
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Nominal income targeting in an open-economy optimizing model : Conference on Monetary Policy Rules, Stockholm 12 - 12 June 1998
McCallum, Bennett T.; Nelson, Edward - 1998 - Preliminary
Persistent link: https://www.econbiz.de/10010128033
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Nominal Income Targeting in an Open-Economy Optimizing Model
McCallum, Bennett T.; Nelson, Edward - 2021
This paper presents stochastic simulation results pertaining to the performance of nominal income targeting, here … existing studies of nominal income growth from a specified target rate. It attempts to improve on existing studies by … conducting analysis in a macroeconomic model that is designed to respect both neoclassical theory and empirical regularities …
Persistent link: https://www.econbiz.de/10013236691
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Monetary Policy for an Open Economy : An Alternative Framework with Optimizing Agents and Sticky Prices
McCallum, Bennett T. - 2001
The new open-economy macroeconomics' seeks to provide an improved basis for monetary and exchange-rate policy through the construction of open-economy models that feature rational expectations, optimizing agents, and slowly adjusting prices of goods. This paper promotes an alternative approach...
Persistent link: https://www.econbiz.de/10012470551
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Nominal Income Targeting in an Open-Economy Optimizing Model
McCallum, Bennett T. - 2000
This paper presents stochastic simulation results pertaining to the performance of nominal income targeting, here … existing studies of nominal income growth from a specified target rate. It attempts to improve on existing studies by … conducting analysis in a macroeconomic model that is designed to respect both neoclassical theory and empirical regularities …
Persistent link: https://www.econbiz.de/10012471031