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Multiple-solution indeterminacies in monetary policy analysis Author info | Abstract | Publisher info | Download info | Related research | Statistics McCallum, Bennett T.
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Article provided by Elsevier in its journal Journal of Monetary Economics .
Volume (Year): 50 (2003)
Issue (Month): 5 (July)
Pages: 1153-1175
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Handle: RePEc:eee:moneco:v:50:y:2003:i:5:p:1153-1175Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505566
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Honkapohja, Seppo & Mitra, Kaushik, 2001.
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Royal Holloway, University of London: Discussion Papers in Economics
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"Are Non-Fundamental Equilibria Learnable in Models of Monetary Policy? ,"
University of Helsinki, Department of Economics
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"Are non-fundamental equilibria learnable in models of monetary policy? ,"
Journal of Monetary Economics ,
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Clarida, Richard & Galí, Jordi & Gertler, Mark, 1999.
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CEPR Discussion Papers
2139, C.E.P.R. Discussion Papers.
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"Performance of Operational Policy Rules in an Estimated Semi-Classical Structural Model ,"
GSIA Working Papers
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Bennett T. McCallum & Edward Nelson, 1999.
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"Price-level determinacy, lower bounds on the nominal interest rate, and liquidity traps ,"
International Finance Discussion Papers
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Ragna Alstadheim & Dale Henderson, 2006.
"Price-level determinacy, lower bounds on the nominal interest rate, and liquidity traps ,"
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The B.E. Journal of Macroeconomics ,
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"The Perils of Taylor Rules ,"
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Benhabib, Jess & Schmitt-Grohe, Stephanie & Uribe, Martin, 1998.
"The Perils of Taylor Rules ,"
Working Papers
98-37, C.V. Starr Center for Applied Economics, New York University.
[Downloadable!] Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 1998.
"The perils of Taylor Rules ,"
Departmental Working Papers
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"Equilibria under 'active' and 'passive' monetary and fiscal policies ,"
Journal of Monetary Economics ,
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Carlstrom, Charles T. & Fuerst, Timothy S., 2001.
"Timing and real indeterminacy in monetary models ,"
Journal of Monetary Economics ,
Elsevier, vol. 47(2), pages 285-298, April.
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Other versions: Bennett T. McCallum, 1983.
"On Non-Uniqueness in Rational Expectations Models: An Attempt at Perspective ,"
NBER Working Papers
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Other versions: Taylor, John B., 1993.
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Carnegie-Rochester Conference Series on Public Policy ,
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Svensson, Lars E. O., 1997.
"Inflation forecast targeting: Implementing and monitoring inflation targets ,"
European Economic Review ,
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Svensson, L-E-O, 1996.
"Inflation Forecast Targeting : Implementaing and Monitoring Inflation Targets ,"
Papers
615, Stockholm - International Economic Studies.
Svensson, Lars E.O., 1997.
"Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets ,"
Seminar Papers
615, Stockholm University, Institute for International Economic Studies.
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"Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets ,"
CEPR Discussion Papers
1511, C.E.P.R. Discussion Papers.
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"Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets ,"
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Willem H. Buiter, 1999.
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NBER Working Papers
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"Convergence of least squares learning mechanisms in self-referential linear stochastic models ,"
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Evans, George, 1985.
"Expectational Stability and the Multiple Equilibria Problem in Linear Rational Expectations Models ,"
The Quarterly Journal of Economics ,
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Willem H. Buiter & Nikolaos Panigirtzoglou, 2003.
"Overcoming the zero bound on nominal interest rates with negative interest on currency: gesell's solution ,"
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DeCanio, Stephen J, 1979.
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Narayana Kocherlakota & Christopher Phelan, 1999.
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Brunner, Karl & Meltzer, Allan H, 1972.
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Evans, George W & Honkapohja, Seppo, 1992.
"On the Robustness of Bubbles in Linear RE Models ,"
International Economic Review ,
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Robert G. King, 2000.
"The new IS-LM model : language, logic, and limits ,"
Economic Quarterly ,
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William Kerr & Robert G. King, 1996.
"Limits on interest rate rules in the IS model ,"
Economic Quarterly ,
Federal Reserve Bank of Richmond, issue Spr, pages 47-75.
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Bennett T. McCallum & Edward Nelson, 2006.
"Monetary and fiscal theories of the price level: the irreconcilable differences ,"
Working Papers
2006-010, Federal Reserve Bank of St. Louis.
[Downloadable!]
Other versions:
Bennett T. McCallum & Edward Nelson, 2006.
"Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences ,"
NBER Working Papers
12089, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Bennett T. McCallum & Edward Nelson, 2005.
"Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences ,"
Oxford Review of Economic Policy ,
Oxford University Press, vol. 21(4), pages 565-583, Winter.
Annicchiarico , Barbara & Piergallini, Alessandro, 2009.
"Country-Specific Risk Premium, Taylor Rules, and Exchange Rates ,"
MPRA Paper
13553, University Library of Munich, Germany.
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James Bullard & In-Koo Cho, 2003.
"Escapist policy rules ,"
Working Papers
2002-002, Federal Reserve Bank of St. Louis.
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Other versions:
James Bullard, & In-Koo Cho, 2003.
"Escapist Policy Rules ,"
CFS Working Paper Series
2003/38, Center for Financial Studies.
[Downloadable!] Bullard, James & Cho, In-Koo, 2005.
"Escapist policy rules ,"
Journal of Economic Dynamics and Control ,
Elsevier, vol. 29(11), pages 1841-1865, November.
[Downloadable!] (restricted) Alexander Meyer-Gohde, 2008.
"The Natural Rate Hypothesis and Real Determinacy ,"
SFB 649 Discussion Papers
SFB649DP2008-054, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
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William T. Gavin, 2003.
"Inflation targeting: why it works and how to make it work better ,"
Working Papers
2003-027, Federal Reserve Bank of St. Louis.
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Bennett T. McCallum, 2009.
"Causality, Structure, and the Uniqueness of Rational Expectations Equilibria ,"
NBER Working Papers
15234, National Bureau of Economic Research, Inc.
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Richard Mash, 2003.
"New Keynesian Microfoundations Revisited: A Calvo-Taylor-Rule-of-Thumb Model and Optimal Monetary Policy Delegation ,"
Economics Series Working Papers
174, University of Oxford, Department of Economics.
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Takushi Kurozumi & Willem Van Zandweghe, 2008.
"Labor market search and interest rate policy ,"
Research Working Paper
RWP 08-03, Federal Reserve Bank of Kansas City.
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Heinz-Peter Spahn, 2004.
"Learning in Macroeconomics and Monetary Policy: The Case of an Open Economy ,"
Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim
236/2004, Department of Economics, University of Hohenheim, Germany.
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Miguel Casares, 2006.
"A close look at model-dependent monetary policy design ,"
Review ,
Federal Reserve Bank of St. Louis, issue Sep, pages 451-470.
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Alexander Meyer-Gohde, 2007.
"Solving Linear Rational Expectations Models with Lagged Expectations Quickly and Easily ,"
SFB 649 Discussion Papers
SFB649DP2007-069, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
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Other versions: Richard Mash, 2003.
"A Note on Simple MSV Solution Methods for Rational Expectations Models of Monetary Policy ,"
Economics Series Working Papers
173, University of Oxford, Department of Economics.
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Robert Dittmar & William T. Gavin, 2004.
"Inflation-targeting, price-path targeting and indeterminacy ,"
Working Papers
2004-007, Federal Reserve Bank of St. Louis.
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Other versions: Stefano Eusepi, 2004.
"Does Central Bank Transparency Matter for Economic Stability ,"
Computing in Economics and Finance 2004
176, Society for Computational Economics.
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Barbara Annicchiarico & Giancarlo Marini & Alessandro Piergallini, 2007.
"Wealth Effects, the Taylor Rule and the Liquidity Trap ,"
CEIS Research Paper
103, Tor Vergata University, CEIS.
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Other versions: Bennett T. McCallum, 2009.
"Indeterminancy from inflation forecast targeting : problem or pseudo-problem? ,"
Economic Quarterly ,
Federal Reserve Bank of Richmond, issue Win, pages 25-51.
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John H. Cochrane, 2007.
"Inflation Determination With Taylor Rules: A Critical Review ,"
NBER Working Papers
13409, National Bureau of Economic Research, Inc.
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Heinz-Peter Spahn, 2007.
"Two-Pillar Monetary Policy and Bootstrap Expectations ,"
Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim
282/2007, Department of Economics, University of Hohenheim, Germany.
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Bennett T. McCallum, 2009.
"The Role of "Determinacy" in Monetary Policy Analysis ,"
IMES Discussion Paper Series
09-E-17, Institute for Monetary and Economic Studies, Bank of Japan.
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Annicchiarico, Barbara & Giammarioli, Nicola & Piergallini, Alessandro, 2009.
"Budgetary Policies in a DSGE Model with Finite Horizons ,"
MPRA Paper
12650, University Library of Munich, Germany.
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Barbara Annicchiarico & Nicola Giammarioli & Alessandro Piergallini, 2006.
"Fiscal policy in a monetary economy with capital and finite lifetime ,"
Working Paper Series
661, European Central Bank.
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