Bennett T. McCallum

Carnegie Mellon University - David A. Tepper School of Business

Professor

5000 Forbes Avenue

Pittsburgh, PA 15213-3890

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • Carnegie Mellon University - David A. Tepper School of Business

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SCHOLARLY PAPERS

88

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7,101

SSRN CITATIONS
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122

CROSSREF CITATIONS

1,693

Scholarly Papers (88)

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1.

Neoclassical vs. Endogenous Growth Analysis: An Overview

Downloads 977 (39,579)
Citation 4

Neoclassical vs. Endogenous Growth Analysis: An Overview

FRB Richmond Economic Quarterly, vol. 82, no. 4, Fall 1996, pp. 41-71
Number of pages: 31 Posted: 17 Nov 2012
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 861 (46,511)

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Neoclassical vs. Endogenous Growth Analysis: An Overview

NBER Working Paper No. w5844
Number of pages: 48 Posted: 20 Jul 2000 Last Revised: 22 Dec 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 116 (394,299)

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2.

Targets, Indicators, and Instruments of Monetary Policy

Downloads 398 (124,457)
Citation 2

Targets, Indicators, and Instruments of Monetary Policy

IMF Working Paper No. 90/41
Number of pages: 40 Posted: 15 Feb 2006
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 330 (151,934)
Citation 2

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Targets, Indicators, and Instruments of Monetary Policy

NBER Working Paper No. w3047
Number of pages: 52 Posted: 14 Apr 2007 Last Revised: 01 May 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 68 (557,091)

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3.

Money and Inflation: Some Critical Issues

FEDS Working Paper No. 2010-57
Number of pages: 80 Posted: 15 Nov 2011
Bennett T. McCallum and Edward Nelson
Carnegie Mellon University - David A. Tepper School of Business and Board of Governors of the Federal Reserve System
Downloads 359 (139,767)
Citation 8

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Monetary aggregates, inflation, interest rates, monetary policy

4.

Japanese Monetary Policy, 1991-2001

FRB Richmond Economic Quarterly, Vol. 89, No. 1, Winter 2003, pp. 1-31
Number of pages: 31 Posted: 05 Dec 2012
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 235 (216,265)

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5.

Theoretical Analysis of the Demand for Money

Downloads 222 (228,381)
Citation 9

Theoretical Analysis of the Demand for Money

Federal Reserve Bank of Richmond Working Paper No. 86-3
Number of pages: 27 Posted: 24 Oct 2012
Bennett T. McCallum and Marvin Goodfriend
Carnegie Mellon University - David A. Tepper School of Business and Carnegie Mellon University - David A. Tepper School of Business
Downloads 157 (310,735)
Citation 6

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Theoretical Analysis of the Demand for Money

FRB Richmond Economic Review, vol. 74, no. 1, January/February 1988, pp. 16-24
Number of pages: 9 Posted: 31 Oct 2012
Marvin Goodfriend and Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business and Carnegie Mellon University - David A. Tepper School of Business
Downloads 65 (571,054)
Citation 4

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6.

Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences

Downloads 213 (237,398)
Citation 8

Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences

FRB of St. Louis Working Paper No. 2006-010A
Number of pages: 36 Posted: 13 Mar 2006
Bennett T. McCallum and Edward Nelson
Carnegie Mellon University - David A. Tepper School of Business and Board of Governors of the Federal Reserve System
Downloads 166 (296,320)

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Fiscal theory of the price level, quantity theory, monetarism, monetary-fiscal policy coordination

Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences

NBER Working Paper No. w12089
Number of pages: 36 Posted: 11 May 2006 Last Revised: 26 Dec 2022
Bennett T. McCallum and Edward Nelson
Carnegie Mellon University - David A. Tepper School of Business and Board of Governors of the Federal Reserve System
Downloads 47 (668,067)
Citation 2

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Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences

Oxford Review of Economic Policy, Vol. 21, Issue 4, pp. 565-583, 2005
Posted: 29 Feb 2008
Bennett T. McCallum and Edward Nelson
Carnegie Mellon University - David A. Tepper School of Business and Board of Governors of the Federal Reserve System

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7.

Real Business Cycle Models

NBER Working Paper No. w2480
Number of pages: 57 Posted: 28 Jun 2004 Last Revised: 13 Oct 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 181 (274,910)
Citation 1

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8.

Money: Theoretical Analysis of the Demand for Money

NBER Working Paper No. w2157
Number of pages: 28 Posted: 19 Jun 2004 Last Revised: 25 Nov 2022
Bennett T. McCallum and Marvin Goodfriend
Carnegie Mellon University - David A. Tepper School of Business and Carnegie Mellon University - David A. Tepper School of Business
Downloads 132 (356,617)

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9.

Inflation: Theory and Evidence

NBER Working Paper No. w2312
Number of pages: 94 Posted: 28 May 2004 Last Revised: 29 Oct 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 123 (376,033)

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10.

Solutions to Linear Rational Expectations Models: A Compact Exposition

NBER Working Paper No. t0232
Number of pages: 9 Posted: 10 Jul 2000 Last Revised: 20 Feb 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 122 (378,348)
Citation 1

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11.

Recent Developments in Monetary Policy Analysis: The Roles of Theory and Evidence

Downloads 118 (387,685)
Citation 21

Recent Developments in Monetary Policy Analysis: The Roles of Theory and Evidence

FRB Richmond Economic Quarterly, vol. 88, no. 1, Winter 2002, pp. 67-96
Number of pages: 30 Posted: 02 Dec 2012
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 59 (600,068)
Citation 1

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Recent Developments in Monetary Policy Analysis: The Roles of Theory and Evidence

NBER Working Paper No. w7088
Number of pages: 50 Posted: 10 Aug 1999 Last Revised: 14 Nov 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 59 (600,068)
Citation 5

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12.

The Alleged Instability of Nominal Income Targeting

Downloads 117 (390,028)

The Alleged Instability of Nominal Income Targeting

Reserve Bank of New Zealand Working Paper No. G97/6
Number of pages: 13 Posted: 06 Dec 2002
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 79 (510,746)

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The Alleged Instability of Nominal Income Targeting

NBER Working Paper No. w6291
Number of pages: 18 Posted: 29 Jun 2000 Last Revised: 11 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 38 (728,198)

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13.

A Reconsideration of the Uncovered Interest Parity Relationship

NBER Working Paper No. w4113
Number of pages: 43 Posted: 13 Jul 2000 Last Revised: 29 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 116 (392,388)
Citation 1

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14.

Issues in the Design of Monetary Policy Rules

NBER Working Paper No. w6016
Number of pages: 76 Posted: 26 Jul 2000 Last Revised: 11 Dec 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 115 (394,935)
Citation 3

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15.

Monetary Policy and the Term Structure of Interest Rates

Downloads 115 (394,935)
Citation 10

Monetary Policy and the Term Structure of Interest Rates

NBER Working Paper No. w4938
Number of pages: 28 Posted: 21 Jul 2000 Last Revised: 31 Dec 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 73 (535,241)

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Monetary Policy and the Term Structure of Interest Rates

FRB Richmond Economic Quarterly, vol. 91, no. 4, Fall 2005, pp. 1-21
Number of pages: 21 Posted: 06 Dec 2012
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 42 (700,223)

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16.

Alternative Monetary Policy Rules: A Comparison with Historical Settings for the United States, the United Kingdom, and Japan

Downloads 110 (407,902)
Citation 32

Alternative Monetary Policy Rules: A Comparison with Historical Settings for the United States, the United Kingdom, and Japan

NBER Working Paper No. w7725
Number of pages: 42 Posted: 11 Jun 2000 Last Revised: 12 Aug 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 86 (484,864)
Citation 2

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Alternative Monetary Policy Rules: A Comparison with Historical Settings for the United States, the United Kingdom, and Japan

FRB Richmond Economic Quarterly, Vol. 86, No. 1, Winter 2000, pp. 49-79
Number of pages: 31 Posted: 28 Nov 2012
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 24 (841,333)

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17.

Analysis of the Monetary Transmission Mechanism: Methodological Issues

NBER Working Paper No. w7395
Number of pages: 54 Posted: 07 Feb 2000 Last Revised: 17 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 102 (430,310)

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18.

An Optimizing Is-Lm Specification for Monetary Policy and Business Cycle Analysis

NBER Working Paper No. w5875
Number of pages: 54 Posted: 13 Jul 2000 Last Revised: 23 Jul 2022
Bennett T. McCallum and Edward Nelson
Carnegie Mellon University - David A. Tepper School of Business and Board of Governors of the Federal Reserve System
Downloads 101 (433,316)
Citation 1

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19.

Monetary Policy for an Open Economy: An Alternative Framework with Optimizing Agents and Sticky Prices

Downloads 97 (445,080)
Citation 64

Monetary Policy for an Open Economy: An Alternative Framework with Optimizing Agents and Sticky Prices

Number of pages: 36 Posted: 16 Mar 2001
Bennett T. McCallum and Edward Nelson
Carnegie Mellon University - David A. Tepper School of Business and Board of Governors of the Federal Reserve System
Downloads 65 (571,054)

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Monetary Policy for an Open Economy: An Alternative Framework with Optimizing Agents and Sticky Prices

Number of pages: 39 Posted: 17 Apr 2001
Bennett T. McCallum and Edward Nelson
Carnegie Mellon University - David A. Tepper School of Business and Board of Governors of the Federal Reserve System
Downloads 32 (773,556)
Citation 6
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Exchange rates and inflation, monetary policy rules, new open economy macroeconomics

20.

Banking and Interest Rates in Monetary Policy Analysis: A Quantitative Exploration

NBER Working Paper No. w13207
Number of pages: 45 Posted: 03 Jul 2007 Last Revised: 04 Aug 2022
Marvin Goodfriend and Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business and Carnegie Mellon University - David A. Tepper School of Business
Downloads 87 (476,847)
Citation 26

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21.

Inflation Targeting in Canada, New Zealand, Sweden, the United Kingdom, and in General

NBER Working Paper No. w5579
Number of pages: 38 Posted: 23 Sep 1996 Last Revised: 01 Oct 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 84 (487,338)
Citation 2

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22.

Unit Roots in Macroeconomic Time Series: Some Critical Issues

Downloads 83 (490,779)
Citation 5

Unit Roots in Macroeconomic Time Series: Some Critical Issues

NBER Working Paper No. w4368
Number of pages: 59 Posted: 22 Jul 2000 Last Revised: 10 Dec 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 46 (674,285)

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Unit Roots in Macroeconomic Time Series: Some Critical Issues

FRB Richmond Economic Quarterly, vol. 79, no. 2, Spring 1993, pp. 13-43
Number of pages: 31 Posted: 09 Nov 2012
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 37 (735,387)

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23.

Monetary vs. Fiscal Policy Effects: a Review of the Debate

NBER Working Paper No. w1556
Number of pages: 39 Posted: 19 Jun 2004
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 81 (497,947)

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24.

On Non-Uniqueness in Rational Expectations Models: An Attempt at Perspective

NBER Working Paper No. w0684
Number of pages: 51 Posted: 19 Jun 2004 Last Revised: 16 Nov 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 79 (505,229)
Citation 1

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25.

Specification of Policy Rules and Performance Measures in Multicountry Simulation Studies

Downloads 77 (512,889)
Citation 2

Specification of Policy Rules and Performance Measures in Multicountry Simulation Studies

IMF Working Paper No. 92/41
Number of pages: 24 Posted: 15 Feb 2006
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 59 (600,068)
Citation 2

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Specification of Policy Rules and Performance Measures in Multicountry Simulation Studies

NBER Working Paper No. w4233
Number of pages: 33 Posted: 06 Apr 2010 Last Revised: 28 Jul 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 18 (898,620)

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26.

Inflation Targeting and the Liquidity Trap

NBER Working Paper No. w8225
Number of pages: 54 Posted: 08 Apr 2001 Last Revised: 24 Dec 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 77 (512,889)
Citation 2

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27.

A Monetary Impulse Measure for Medium-Term Policy Analysis

IMF Working Paper No. 94/146
Number of pages: 34 Posted: 15 Feb 2006
Bennett T. McCallum and Monica Hargraves
Carnegie Mellon University - David A. Tepper School of Business and affiliation not provided to SSRN
Downloads 76 (516,686)

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28.

Targeting vs. Instrument Rules for Monetary Policy

NBER Working Paper No. w10612
Number of pages: 33 Posted: 26 Jul 2004 Last Revised: 01 Jan 2023
Bennett T. McCallum and Edward Nelson
Carnegie Mellon University - David A. Tepper School of Business and Board of Governors of the Federal Reserve System
Downloads 76 (516,686)
Citation 7

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29.

Should Central Banks Raise Their Inflation Targets? Some Relevant Issues

Downloads 71 (536,722)
Citation 2

Should Central Banks Raise Their Inflation Targets? Some Relevant Issues

NBER Working Paper No. w17005
Number of pages: 30 Posted: 09 May 2011 Last Revised: 19 Jun 2023
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 38 (728,198)

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Should Central Banks Raise Their Inflation Targets? Some Relevant Issues

FRB Richmond Economic Quarterly, vol. 97, no. 2, Second Quarter 2011, pp. 111-131
Number of pages: 21 Posted: 19 Dec 2012
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 33 (765,659)

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30.

The Role of Overlapping-Generations Models in Monetary Economics

NBER Working Paper No. w0989
Number of pages: 55 Posted: 16 Jul 2004 Last Revised: 16 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 70 (540,844)

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31.

Macroeconomics after a Decade of Rational Expectations: Some Critical Issues

Downloads 67 (553,739)
Citation 7

Macroeconomics after a Decade of Rational Expectations: Some Critical Issues

NBER Working Paper No. w1050
Number of pages: 33 Posted: 09 Jun 2004 Last Revised: 16 Nov 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 35 (750,302)

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Macroeconomics after a Decade of Rational Expectations: Some Critical Issues

FRB Richmond Economic Review, Vol. 68, No. 6, November/December 1982, pp. 3-12
Number of pages: 10 Posted: 24 Aug 2012
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 32 (773,556)

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32.

Two Fallacies Concerning Central Bank Independence

NBER Working Paper No. w5075
Number of pages: 15 Posted: 11 Jun 2000 Last Revised: 14 Nov 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 67 (553,739)

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33.

Theoretical Issues Pertaining to Monetary Unions

NBER Working Paper No. w7393
Number of pages: 37 Posted: 06 Mar 2000 Last Revised: 15 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 63 (571,493)

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34.

Are Bond-Financed Deficits Inflationary? A Ricardian Analysis

NBER Working Paper No. w0905
Number of pages: 35 Posted: 04 Apr 2004 Last Revised: 24 Dec 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 62 (575,948)

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35.

Alternatives to the Fed?

Cato Journal, Vol. 30, No. 3, 2010
Number of pages: 12 Posted: 19 Apr 2013
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 58 (594,962)

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federal reserve bank, central banking, financial crisis of 2008, U.S. monetary policy, gold standard, free markets, privatization

36.

Price Level Determinacy with an Interest Rate Policy Rule and Rational Expectations

NBER Working Paper No. w0559
Number of pages: 22 Posted: 25 Jun 2004 Last Revised: 14 Jul 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 58 (594,962)
Citation 4

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37.

An Optimizing Is-Lm Framework with Endogenous Investment

NBER Working Paper No. w7908
Number of pages: 41 Posted: 15 Sep 2000 Last Revised: 12 Aug 2022
Miguel Casares and Bennett T. McCallum
Universidad Pública de Navarra and Carnegie Mellon University - David A. Tepper School of Business
Downloads 58 (594,962)

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38.

Crucial Issues Concerning Central Bank Independence

NBER Working Paper No. w5597
Number of pages: 25 Posted: 04 Aug 2000 Last Revised: 19 Oct 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 57 (599,974)
Citation 1

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39.

The Liquidity Trap and the Pigou Effect: A Dynamic Analysis with Rational Expectations

NBER Working Paper No. w0894
Number of pages: 23 Posted: 16 Jul 2004 Last Revised: 12 Dec 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 56 (605,027)

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40.

Monetary Policy Rules and Financial Stability

NBER Working Paper No. w4692
Number of pages: 50 Posted: 30 Dec 2000 Last Revised: 29 Oct 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 56 (605,027)

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41.

Theoretical Analysis Regarding a Zero Lower Bound on Nominal Interest Rates

NBER Working Paper No. w7677
Number of pages: 56 Posted: 21 May 2000 Last Revised: 25 Dec 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 55 (610,044)
Citation 7

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42.

Monetary Policy Analysis in Models Without Money

NBER Working Paper No. w8174
Number of pages: 41 Posted: 16 Mar 2001 Last Revised: 03 Nov 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 53 (620,558)
Citation 1

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43.

Should Monetary Policy Respond Strongly to Output Gaps?

NBER Working Paper No. w8226
Number of pages: 15 Posted: 08 Apr 2001 Last Revised: 25 Dec 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 50 (636,721)
Citation 4

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44.

Bank Deregulation, Accounting Systems of Exchange, and the Unit of Account: a Critical Review

NBER Working Paper No. w1572
Number of pages: 40 Posted: 04 Apr 2004 Last Revised: 26 Oct 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 49 (642,353)

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45.

Could a Monetary Base Rule Have Prevented the Great Depression?

NBER Working Paper No. w3162
Number of pages: 44 Posted: 24 Jan 2007 Last Revised: 24 Aug 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 47 (653,681)
Citation 2

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46.

The Optimal Inflation Rate in an Overlapping-Generations Economy with Land

NBER Working Paper No. w1892
Number of pages: 26 Posted: 16 Jul 2004 Last Revised: 04 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 47 (653,681)
Citation 1

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47.

The Present and Future of Monetary Policy Rules

NBER Working Paper No. w7916
Number of pages: 23 Posted: 29 Sep 2000 Last Revised: 20 Aug 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 47 (653,681)

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48.

Timeless Perspectives vs. Discretionary Monetary Policy in Forward-Looking Models

NBER Working Paper No. w7915
Number of pages: 35 Posted: 28 Sep 2000 Last Revised: 19 Aug 2022
Bennett T. McCallum and Edward Nelson
Carnegie Mellon University - David A. Tepper School of Business and Board of Governors of the Federal Reserve System
Downloads 47 (653,681)

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49.

Role of the Minimal State Variable Criterion

NBER Working Paper No. w7087
Number of pages: 35 Posted: 30 Jul 1999 Last Revised: 15 May 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 46 (659,508)

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50.

Credibility and Monetary Policy

NBER Working Paper No. w1490
Number of pages: 44 Posted: 11 Apr 2004 Last Revised: 30 Jul 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 45 (665,365)
Citation 1

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51.

Indeterminacy, Bubbles, and the Fiscal Theory of Price Level Determination

NBER Working Paper No. w6456
Number of pages: 21 Posted: 11 Sep 2000 Last Revised: 24 Aug 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 45 (665,365)
Citation 5

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52.

On "Real" and "Sticky-Price" Theories of the Business Cycle

NBER Working Paper No. w1933
Number of pages: 38 Posted: 19 Jun 2004 Last Revised: 15 Oct 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 44 (671,227)

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53.

Performance of Operational Policy Rules in an Estimated Semi-Classical Structural Model

NBER Working Paper No. w6599
Number of pages: 56 Posted: 19 Jul 2000 Last Revised: 15 Jul 2022
Bennett T. McCallum and Edward Nelson
Carnegie Mellon University - David A. Tepper School of Business and Board of Governors of the Federal Reserve System
Downloads 44 (671,227)
Citation 5

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54.

Is the Spurious Regression Problem Spurious?

NBER Working Paper No. w15690
Number of pages: 10 Posted: 01 Feb 2010 Last Revised: 17 May 2023
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 43 (677,398)
Citation 1

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55.

Specification and Analysis of a Monetary Policy Rule for Japan

NBER Working Paper No. w4449
Number of pages: 78 Posted: 30 Aug 2010 Last Revised: 29 Aug 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 42 (683,673)
Citation 1

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56.

The Case for Rules in the Conduct of Monetary Policy: A Concrete Example

FRB Richmond Economic Review, vol. 73, no. 5, September/October 1987, pp. 10-18
Number of pages: 9 Posted: 27 Oct 2012
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 41 (689,953)
Citation 5

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57.

E-Stability Vis-a-Vis Determinacy Results for a Broad Class of Linear Rational Expectations Models

NBER Working Paper No. w12441
Number of pages: 26 Posted: 21 Aug 2006 Last Revised: 31 Dec 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 41 (689,953)
Citation 2

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58.

Monetarist Principles and the Money Stock Growth Rule

NBER Working Paper No. w0630
Number of pages: 14 Posted: 18 Jun 2004 Last Revised: 23 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 41 (689,953)

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59.

Monetary Policy in Economies with Little or No Money

NBER Working Paper No. w9838
Number of pages: 23 Posted: 14 Jul 2003 Last Revised: 20 Nov 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 41 (689,953)

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60.

Some Issues Concerning Interest Rate Pegging, Price Level Determinacy, and the Real Bills Doctrine

NBER Working Paper No. w1294
Number of pages: 46 Posted: 04 Jul 2004 Last Revised: 17 Jul 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 40 (696,450)
Citation 2

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61.

On Consequences and Criticisms of Monetary Targeting

NBER Working Paper No. w1596
Number of pages: 56 Posted: 19 Jun 2004 Last Revised: 13 Nov 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 39 (702,958)
Citation 2

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62.

Nominal Income Targeting in an Open-Economy Optimizing Model

NBER Working Paper No. w6675
Number of pages: 42 Posted: 04 Sep 1998 Last Revised: 29 Sep 2022
Bennett T. McCallum and Edward Nelson
Carnegie Mellon University - David A. Tepper School of Business and Board of Governors of the Federal Reserve System
Downloads 39 (702,958)
Citation 15

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63.

Money Stock Control with Reserve and Interest Rate Instruments Under Rational Expectations

NBER Working Paper No. w0893
Number of pages: 32 Posted: 17 Oct 2007 Last Revised: 04 Apr 2022
Bennett T. McCallum and James G Hoehn
Carnegie Mellon University - David A. Tepper School of Business and Federal Reserve Banks, Federal Reserve Bank of Dallas (Deceased)
Downloads 38 (709,731)
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64.

The Role of Demand Management in the Maintenance of Full Employment

NBER Working Paper No. w2520
Number of pages: 31 Posted: 16 Jul 2004 Last Revised: 21 Nov 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 37 (716,414)

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65.

A Linearized Version of Lucas's Neutrality Model

NBER Working Paper No. w1160
Number of pages: 18 Posted: 01 Feb 2001 Last Revised: 04 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 37 (716,414)

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66.

Inflation Determination with Taylor Rules: Is New Keynesian Analysis Critically Flawed?

NBER Working Paper No. w14534
Number of pages: 22 Posted: 10 Dec 2008 Last Revised: 20 Mar 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 36 (723,335)
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67.

On Low-Frequency Estimates of "Long-Run" Relationships in Macro- Economics

NBER Working Paper No. w1162
Number of pages: 19 Posted: 19 Jun 2004 Last Revised: 05 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 36 (723,335)
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68.

On the Relationship between Determinate and Msv Solutions in Linear Re Models

NBER Working Paper No. t0297
Number of pages: 14 Posted: 03 Aug 2004 Last Revised: 26 Apr 2023
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 35 (730,312)
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69.

Monetarist Rules in the Light of Recent Experience

NBER Working Paper No. w1277
Number of pages: 14 Posted: 18 Jun 2004 Last Revised: 30 Dec 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 34 (737,306)
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70.

Is the Fiscal Theory of the Price Level Learnable?

NBER Working Paper No. w9961
Number of pages: 30 Posted: 08 Nov 2010 Last Revised: 21 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 33 (744,670)
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71.

The Development of Keynesian Macroeconomics

NBER Working Paper No. w2156
Number of pages: 14 Posted: 21 Mar 2007 Last Revised: 29 Nov 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 33 (744,670)

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72.

Consistent Expectations, Rational Expectations, Multiple-Solution Indeterminacies, and Least-Squares Learnability

NBER Working Paper No. w9218
Number of pages: 32 Posted: 20 Sep 2002 Last Revised: 11 Mar 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 33 (744,670)

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73.

Macroeconomics after Two Decades of Rational Expectations

NBER Working Paper No. w4367
Number of pages: 34 Posted: 09 Jun 2004 Last Revised: 09 Dec 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 32 (752,056)

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74.

Timeless Perspective vs. Discretionary Monetary Policy in Forward-Looking Models

Number of pages: 42 Posted: 17 Apr 2001
Bennett T. McCallum and Edward Nelson
Carnegie Mellon University - David A. Tepper School of Business and Board of Governors of the Federal Reserve System
Downloads 32 (752,056)
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Discretion, expectations, policymaking, rules

75.

Multiple-Solution Indeterminacies in Monetary Policy Analysis

NBER Working Paper No. w9837
Number of pages: 39 Posted: 14 Jul 2003 Last Revised: 19 Nov 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 30 (767,341)

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76.

Indeterminacy from Inflation Forecast Targeting: Problem or Pseudo-Problem?

FRB Richmond Economic Quarterly, Vol. 95, No. 1, Winter 2009, pp. 25-51
Number of pages: 27 Posted: 13 Dec 2012
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 26 (798,769)

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77.

Causality, Structure, and the Uniqueness of Rational Expectations Equilibria

NBER Working Paper No. w15234
Number of pages: 26 Posted: 18 Aug 2009 Last Revised: 16 Feb 2023
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 26 (798,769)
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78.

Money and Prices in Colonial America: a New Test of Competing Theories

NBER Working Paper No. w3383
Number of pages: 41 Posted: 04 Apr 2011 Last Revised: 01 Oct 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 25 (807,072)
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79.

The Unique Minimum State Variable Re Solution is E-Stable in All Well Formulated Linear Models

NBER Working Paper No. w9960
Number of pages: 35 Posted: 08 Nov 2010 Last Revised: 19 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 24 (815,512)

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80.

The Non-Optimality of Proposed Monetary Policy Rules Under Timeless-Perspective Commitment

NBER Working Paper No. w8882
Number of pages: 11 Posted: 11 Apr 2002 Last Revised: 10 Apr 2022
Christian Jensen and Bennett T. McCallum
Southern Methodist University (SMU) - Dedman College of Humanities and Sciences and Carnegie Mellon University - David A. Tepper School of Business
Downloads 24 (815,512)

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81.

A Monetary Policy Rule for Automatic Prevention of a Liquidity Trap

NBER Working Paper No. w11056
Number of pages: 45 Posted: 17 Sep 2012 Last Revised: 18 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 23 (824,262)

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82.

A Semi-Classical Model of Price Level Adjustment

NBER Working Paper No. w4706
Number of pages: 44 Posted: 16 May 2011 Last Revised: 12 Nov 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 20 (850,838)

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83.

Determinacy, Learnability, and Plausibility in Monetary Policy Analysis: Additional Results

NBER Working Paper No. w14164
Number of pages: 27 Posted: 16 Jul 2008 Last Revised: 15 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 20 (850,838)

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84.

Refining Linear Rational Expectations Models and Equilibria

NBER Working Paper No. w18348
Number of pages: 24 Posted: 01 Sep 2012 Last Revised: 19 Feb 2023
Seonghoon Cho and Bennett T. McCallum
School of Economics, Yonsei University and Carnegie Mellon University - David A. Tepper School of Business
Downloads 19 (859,931)

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85.

Reconsideration of the P-Bar Model of Gradual Price Adjustment

NBER Working Paper No. w14163
Number of pages: 33 Posted: 16 Jul 2008 Last Revised: 14 Sep 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 17 (878,639)

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86.

A Continuity Refinement for Rational Expectations Solutions

NBER Working Paper No. w18323
Number of pages: 23 Posted: 18 Aug 2012 Last Revised: 25 Jan 2023
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 15 (897,839)

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87.

Determinacy, Learnability, Plausibility, and the Role of Money in New Keynesian Models

NBER Working Paper No. w18215
Number of pages: 29 Posted: 14 Jul 2012 Last Revised: 10 Apr 2022
Bennett T. McCallum
Carnegie Mellon University - David A. Tepper School of Business
Downloads 14 (907,517)

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88.

Base Money Rules in the UK

Bank of England Working Paper No. 45
Posted: 14 Apr 1998
Andrew Haldane, Bennett T. McCallum and Chris Salmon
Bank of England, Carnegie Mellon University - David A. Tepper School of Business and Bank of England

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