Recent Developments in Monetary Policy Analysis: The Roles of Theory and Evidence
30 Pages Posted: 2 Dec 2012
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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
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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
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62
Date Written: 2002
Abstract
Both academic thinking about monetary economics and the practice of monetary policy have changed drastically since 1971-1973, when the rational expectations revolution was beginning and the Bretton Woods system was crumbling. The present article considers whether the various changes that have taken place were influenced primarily by economic theory or by empirical evidence — or by a combination of the two.
Suggested Citation: Suggested Citation
McCallum, Bennett T., Recent Developments in Monetary Policy Analysis: The Roles of Theory and Evidence (2002). FRB Richmond Economic Quarterly, vol. 88, no. 1, Winter 2002, pp. 67-96, Available at SSRN: https://ssrn.com/abstract=2183377
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