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Nominal income targeting with the monetary base as instrument: an evaluation of McCallum's rule

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  • Gregory D. Hess
  • David H. Small
  • Flint Brayton

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File URL: http://fraser.stlouisfed.org/historicaldocs/op/download/41115/Conf%20Proceed_199303_partII_session%20VII.pdf
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Bibliographic Info

Article provided by Board of Governors of the Federal Reserve System (U.S.) in its journal Proceedings.

Volume (Year): (1993)
Issue (Month): ()
Pages:

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Handle: RePEc:fip:fedgpr:y:1993:n:1pt.2:x:6

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Related research

Keywords: Monetary policy - United States ; Income ; Money supply;

References

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  1. Mccallum, Bennet T., 1988. "Robustness properties of a rule for monetary policy," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 29(1), pages 173-203, January.
  2. Bennett T. McCallum, 1987. "The case for rules in the conduct of monetary policy: a concrete example," Economic Review, Federal Reserve Bank of Richmond, issue Sep, pages 10-18.
  3. R.W. Hafer & Joseph H. Haslag & Scott E. Hein, 1991. "Evaluating monetary base targeting rules," Research Paper 9104, Federal Reserve Bank of Dallas.
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Citations

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Cited by:
  1. Michael Dotsey & Christopher Otrok, 1994. "M2 and monetary policy: a critical review of the recent debate," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 41-49.
  2. McCallum, Bennett T., 1999. "Issues in the design of monetary policy rules," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 23, pages 1483-1530 Elsevier.
  3. Meixing DAI, 2010. "Financial market imperfections and monetary policy strategy," Working Papers of BETA 2010-19, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  4. Dean Croushore & Tom Stark, 1996. "Evaluating McCallum's rule when monetary policy matters," Working Papers 96-3, Federal Reserve Bank of Philadelphia.
  5. Dai, Meixing, 2009. "On the role of money growth targeting under inflation targeting regime," MPRA Paper 13780, University Library of Munich, Germany.
  6. Dai, Meixing, 2009. "The Design of a 'Two-Pillar' Monetary Policy Strategy," Economics Discussion Papers 2009-29, Kiel Institute for the World Economy.
  7. Estrella, Arturo & Mishkin, Frederic S., 1997. "Is there a role for monetary aggregates in the conduct of monetary policy?," Journal of Monetary Economics, Elsevier, vol. 40(2), pages 279-304, October.
  8. Feige, Edgar L., 1997. "Revised estimates of the Underground Economy: Implications of US Currency held abroad," MPRA Paper 13805, University Library of Munich, Germany.
  9. John P. Judd & Brian Motley, 1993. "Using a nominal GDP rule to guide discretionary monetary policy," Economic Review, Federal Reserve Bank of San Francisco, pages 3-11.
  10. Bennett T. McCallum, 1994. "How can monetary policy be improved?," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 38, pages 245-249.

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