The present and future of monetary policy rules

International Finance

Volumn 3, Issue 2, 2000, Pages 273-286

  McCallum, Bennett T ^a  

^a CARNEGIE MELLON UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0039772293     PISSN: 13670271     EISSN: None     Source Type: Journal    
DOI: 10.1111/1468-2362.00052     Document Type: Article

References (34)

1. Archer, David J. (2000), 'Inflation Targeting in New Zealand', IMF Seminar, March 20-1.
2. Barro, Robert J., and David B. Gordon (1983), 'A Positive Theory of Monetary Policy in a Natural Rate Model', Journal of Political Economy, 91, 589-610.
3. Batini, Nicoletta and Andrew Haldane (1999), 'Forward-Looking Rules for Monetary Policy', in J. B. Taylor, ed., Monetary Policy Rules. Chicago: University of Chicago Press for NBER.
4. Bengtsson, Ingemar (2000), 'Superseding the Quantity Theory of Money - The Contractual Approach to Nominal Prices', working paper, Lund University.
5. Bernanke, Ben S., Thomas Laubach, Frederic S. Mishkin and Adam S. Posen (1999), Inflation Targeting: Lessons from the International Experience. Princeton, NJ: Princeton University Press.
6. Bogdanski, Joel, Alexandre Antonio Tombini and Sergio Ribeiro da Costa Werlang (2000), 'Implementing Inflation Targeting in Brazil', IMF Seminar, March 20-1.
7. Buiter, Willem (1998), 'The Young Person's Guide to Neutrality, Price Level Indeterminacy, Interest Rate Pegs, and Fiscal Theories of the Price Level', NBER working paper 6396.
8. Calvo, Guillermo A. (1983), 'Staggered Prices in a Utility-Maximizing Framework', Journal of Monetary Economics, 12, 383-98.
9. Carstens, Agustin G., and Alejandro W. Werner (2000), 'Mexico's Monetary Policy Framework Under a Floating Exchange Rate Regime', IMF Seminar, March 20-1.
10. Clarida, Richard, Jordi Gali and Mark Gertler (1999), 'The Science of Monetary Policy: A New Keynesian Perspective', Journal of Economic Literature, 37, 1661-707.
11. Drew, Aaron, and Benjamin Hunt (1999), 'The Effects of Potential Output Uncertainty on the Performance of Simple Policy Rules', in B. Hunt and A. Orr, eds, Monetary Policy Under Uncertainty. Wellington, NZ: Reserve Bank of New Zealand.
12. Fillion, Jean-Francois, and Robert Tetlow (1994), 'Zero-Inflation or Price-Level Targeting? Some Answers from Stochastic Simulations on a Small Open-Economy Macro Model', in Economic Behaviour and Policy Choice Under Price Stability. Ottawa: Bank of Canada.
13. Freedman, Charles (2000), 'The Canadian Experience with Targets for Reducing and Controlling Inflation', IMF Seminar, March 20-1.
14. Friedman, Benjamin M. (1999), 'The Future of Monetary Policy: The Central Bank as an Army with Only a Signal Corps?', International Finance, 2, 321-38.
15. Fuhrer, Jeffrey C., and George R. Moore (1995), 'Inflation Persistence', Quarterly Journal of Economics, 109, 127-59.
16. Goodfriend, Marvin, and Robert G. King (1988), 'Financial Deregulation, Monetary Policy, and Central Banking', Economic Review, Federal Reserve Bank of Richmond, 74(3), 3-22.
17. Goodhart, C. A. E. (2000), 'Can Central Banking Survive the IT Revolution?', International Finance, 3, 189-209.
18. Haldane, Andrew (2000), 'Ghostbusting: The UK Experience of Inflation Targeting', IMF Seminar, March 20-21.
19. Jensen, Henrik (1999), 'Targeting Nominal Income Growth or Inflation', working paper, University of Copenhagen.
20. Leiderman, Leonardo, and Hadas Bar-Or (2000), 'Monetary Policy Rules and Transmission Mechanisms Under Inflation Targeting in Israel', IMF Seminar, March 20-1.
21. Lucas, Robert E., Jr (1980), 'Rules, Discretion, and the Role of the Economic Advisor', in S. Fischer, ed., Rational Expectations and Economic Policy. Chicago: University of Chicago Press for NBER.
22. McCallum, Bennett T. (1985), 'Bank Deregulation, Accounting Systems of Exchange, and the Unit of Account: A Critical Review', Carnegie-Rochester Conference Series on Public Policy, 23, 13-46.
23. _ (1993), 'Discretion Versus Policy Rules in Practice: Two Critical Points, A Comment', Carnegie-Rochester Conference Series on Public Policy, 39, 215-20.
24. _ (1999), 'Issues in the Design of Monetary Policy Rules', in J. B. Taylor and M. Woodford, eds, Handbook of Macroeconomics. Amsterdam: North-Holland Pub. Co.
25. _ (2000), 'Alternative Monetary Policy Rules: A Comparison with Historical Settings for the United States, the United Kingdom, and Japan', NBER working paper No. 7725.
26. Rotemberg, Julio J. (1982), 'Sticky Prices in the United States', Journal of Political Economy, 90, 1187-211.
27. Svensson, Lars E. O. (1997), 'Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets', European Economic Review, 41, 1111-46.
28. _ (1999a), 'How Should Monetary Policy be Conducted in an Era of Price Stability?', Federal Reserve Bank of Kansas City Symposium on 'New Challenges for Monetary Policy', 26-28 August.
29. _ (1999b), 'Inflation Targeting as a Monetary Policy Rule', Journal of Monetary Economics, 43, 607-54.
30. Svensson, Lars E. O., and Michael Woodford (1999), 'Implementing Optimal Policy Through Inflation-forecast Targeting', working paper, Princeton University.
31. Taylor, John B. (1993), 'Discretion Versus Policy Rules in Practice', Carnegie-Rochester Conference Series on Public Policy, 39, 195-314.
32. Woodford, Michael (1998), 'Doing without Money: Controlling Inflation in a Post-Monetary World', Review of Economic Dynamics, 1, 173-219.
33. _ (1999), 'Commentary: How Should Monetary Policy be Conducted in an Era of Price Stability?', Federal Reserve Bank of Kansas City Symposium on 'New Challenges for Monetary Policy', August 26-8.
34. _ (2000), 'Monetary Policy in a World without Money', International Finance (this issue).