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How Important Is Money in the Conduct of Monetary Policy? A Comment

2008; Wiley; Volume: 40; Issue: 8 Linguagem: Inglês

10.1111/j.1538-4616.2008.00182.x

1538-4616

Bennett T. McCallum,

Global Financial Crisis and Policies

Journal of Money, Credit and BankingVolume 40, Issue 8 p. 1783-1790 How Important Is Money in the Conduct of Monetary Policy? A Comment BENNETT T. McCALLUM, BENNETT T. McCALLUM Bennett T. McCallum is from Carnegie Mellon University and NBER (Email: [email protected]).Search for more papers by this author BENNETT T. McCALLUM, BENNETT T. McCALLUM Bennett T. McCallum is from Carnegie Mellon University and NBER (Email: [email protected]).Search for more papers by this author First published: 24 November 2008 https://doi.org/10.1111/j.1538-4616.2008.00182.xCitations: 14 I am indebted to Marvin Goodfriend, Edward Nelson, and two referees for comments on earlier drafts of this paper. Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinkedInRedditWechat LITERATURE CITED Alvarez, Fernando, Robert E. Lucas Jr., and Warren Weber. (2001) “Interest Rates and Inflation. American Economic Review, 91:2, 291–25. Freedman, Charles. (2000) “Monetary Policy Implementation: Past, Present and Future—Will Electronic Money Lead to the Eventual Demise of Central Banking? International Finance, 3:2, 211–27. Friedman, Benjamin M. (2000) “Decoupling at the Margin: The Threat to Monetary Policy from the Electronic Revolution in Banking. International Finance, 3:2, 261–72. Goodfriend, Marvin. (2002) “Interest on Reserves and Monetary Policy. Federal Reserve Bank of New York Economic Policy Review, 8, 77–84. Ireland, Peter N. (2004) “Money's Role in the Business Cycle. Journal of Money, Credit and Banking, 36:6, 969–83. King, Mervyn. (2001) “ Commentary. Economic Policy for the Information Economy. Federal Reserve Bank of Kansas City. Lucas, Robert E., Jr. (2006) “ Panel Discussion: Colloquium in Honor of Otmar Issing. Presented at ECB colloquium “Monetary Policy: A Journey from Theory to Practice.” Frankfurt : European Central Bank . McCallum, Bennett T. (2000) “Alternative Monetary Policy Rules: A Comparison with Historical Settings for the United States, United Kingdom, and Japan. Federal Reserve Bank of Richmond Economic Quarterly, 86:1, 49–79. McCallum, Bennett T. (2001) “Monetary Policy Analysis in Models without Money. Federal Reserve Bank of St. Louis Review, 83:4, 145–60. McCallum, Bennett T. (2003) “Multiple-Solution Indeterminacies in Monetary Policy Analysis. Journal of Monetary Economics, 50:5, 1153–75. Nelson, Edward. (2003) “The Future of Monetary Aggregates in Monetary Policy Analysis. Journal of Monetary Economics, 50:5, 1029–59. Reynard, Samuel. (2006) “Maintaining Low Inflation: Money, Interest Rates, and Policy Stance. Journal of Monetary Economics, 54:5, 1441–71. Taylor, John B. (1993) “Discretion Versus Policy Rules in Practice. Carnegie-Rochester Conference Series on Public Policy, 39, 195–214. Woodford, Michael. (2000) “Monetary Policy in a World without Money. International Finance, 3:2, 229–60. Woodford, Michael. (2001) “ Monetary Policy in the Information Economy.” In Economic Policy for the Information Economy. Kansas City , MO : Federal Reserve Bank of Kansas City. Woodford, Michael. (2003) Interest and Prices: Foundations of a Theory of Monetary Policy. Princeton, NJ : Princeton University Press. Woodford, Michael. (2005) “Firm-Specific Capital and the New Keynesian Phillips Curve. International Journal of Central Banking, 1:2, 1–46. Woodford, Michael. (2008) “How Important is Money in the Conduct of Monetary Policy? Journal of Money, Credit and Banking, 40, 1561–98. Citing Literature Volume40, Issue8December 2008Pages 1783-1790 ReferencesRelatedInformation