Should monetary policy respond strongly to output gaps?

American Economic Review

Volumn 91, Issue 2, 2001, Pages 258-262

  McCallum, Bennett T ^a  

^a CARNEGIE MELLON UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0000114339     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/aer.91.2.258     Document Type: Article

References (11)

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2. Fuhrer, Jeffrey C. "Habit Formation in Consumption and Its Implications for Monetary-Policy Models." American Economic Review, June 2000, 90(3), pp. 367-90.
3. Fuhrer, Jeffrey C. and Moore, George R. "Inflation Persistence." Quarterly Journal of Economics, February 1995, 110(1), pp. 303-36.
4. King, Robert G. and Wolman, Alexander L. "Inflation Targeting in A St. Louis Model of the 21st Century." Federal Reserve Bank of St. Louis Review, May-June 1996, 78(3), pp. 83-107.
5. McCallum, Bennett T. and Nelson, Edward. "Performance of Operational Policy Rules in an Estimated Semi-classical Structural Model," in John Taylor, ed., Monetary policy rules. Chicago: University of Chicago Press, 1999, pp. 15-45.
6. Orphanides, Athanasios. "The Quest for Prosperity Without Inflation." Working paper, Federal Reserve Board, Washington, DC, 2000.
7. Rotemberg, Julio J. and Woodford, Michael. "Interest Rate Rules in an Estimated Sticky-Price Model," in John Taylor, ed., Monetary policy rules. Chicago: University of Chicago Press, 1999, pp. 57-119.
8. Rudebusch, Glenn D. and Svensson, Lars E. O. "Policy Rules for Inflation Targeting," in John Taylor, ed., Monetary policy rules. Chicago: University of Chicago Press, 1999, pp. 203-46.
9. Taylor, John B., ed. Monetary policy rules. Chicago: University of Chicago Press, 1999.
10. Wallace, Neil. "Comment on 'Theoretical Analysis Regarding a Zero Lower Bound on Nominal Interest Rates'." Journal of Money, Credit, and Banking, November 2000, Part 2, 32(4), pp. 931-35.
11. Yun, Tack. "Nominal Price Rigidity, Money Supply Endogenity, and Business Cycles." Journal of Monetary Economics, April 1996, 37(2), pp. 345-70.