IDEAS home Printed from https://ideas.repec.org/a/fip/fedlrv/y1993imayp15-29.html
   My bibliography  Save this article

Can nominal GDP targeting rules stabilize the economy?

Author

Listed:
  • Michael J. Dueker

Abstract

No abstract is available for this item.

Suggested Citation

  • Michael J. Dueker, 1993. "Can nominal GDP targeting rules stabilize the economy?," Review, Federal Reserve Bank of St. Louis, issue May, pages 15-29.
    • Handle: RePEc:fip:fedlrv:y:1993:i:may:p:15-29
    as

    Download full text from publisher

    File URL: https://files.stlouisfed.org/files/htdocs/publications/review/93/05/Nominal_May_Jun1993.pdf
    Download Restriction: no
    File URL: https://fraser.stlouisfed.org/scribd/?toc_id=499458&filepath=/docs/publications/frbslreview/rev_stls_199305.pdf&start_page=14#scribd-open
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bennett T. McCallum, 1987. "The case for rules in the conduct of monetary policy: a concrete example," Economic Review, Federal Reserve Bank of Richmond, vol. 73(Sep), pages 10-18.
    2. John P. Judd & Brian Motley, 1992. "Controlling inflation with an interest rate instrument," Economic Review, Federal Reserve Bank of San Francisco, pages 3-22.
    3. Michael D. Bradley & Dennis W. Jansen, 1989. "Understanding nominal GNP targeting," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 31-40.
    4. Scott E. Hein & Paul T. W. M. Veugelers, 1983. "Predicting velocity growth: a time series perspective," Review, Federal Reserve Bank of St. Louis, vol. 65(Oct), pages 34-43.
    5. David A. Dickey & Dennis W. Jansen & Daniel L. Thornton, 1994. "A Primer on Cointegration with an Application to Money and Income," Palgrave Macmillan Books, in: B. Bhaskara Rao (ed.), Cointegration, chapter 2, pages 9-45, Palgrave Macmillan.
    6. Robert H. Rasche, 1993. "Monetary aggregates, monetary policy and economic activity," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 1-35.
    7. Poole, William, 1988. "Monetary Policy Lessons of Recent Inflation and Disinflation," Journal of Economic Perspectives, American Economic Association, vol. 2(3), pages 73-100, Summer.
    8. Engle, Robert F, 1982. "Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation," Econometrica, Econometric Society, vol. 50(4), pages 987-1007, July.
    9. Barro, Robert J & Gordon, David B, 1983. "A Positive Theory of Monetary Policy in a Natural Rate Model," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 589-610, August.
    10. Kim, Chang-Jin, 1994. "Dynamic linear models with Markov-switching," Journal of Econometrics, Elsevier, vol. 60(1-2), pages 1-22.
    11. Taylor, John B., 1985. "What would nominal GNP targetting do to the business cycle?," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 22(1), pages 61-84, January.
    12. Alan Greenspan, 1989. "Statement by Alan Greenspan," Journal of Applied Corporate Finance, Morgan Stanley, vol. 2(1), pages 31-34, March.
    13. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Michael J. Dueker, 1993. "Indicators of monetary policy: the view from implicit feedback rules," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 23-40.
    2. McCallum, Bennett T., 1999. "Issues in the design of monetary policy rules," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 23, pages 1483-1530, Elsevier.
    3. Belongia, Michael T. & Ireland, Peter N., 2017. "Circumventing the zero lower bound with monetary policy rules based on money," Journal of Macroeconomics, Elsevier, vol. 54(PA), pages 42-58.
    4. Chapra, Muhammad Umer, 1996. "Monetary Management In An Islamic Economy," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 4, pages 2-35.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:zbw:bofrdp:1995_021 is not listed on IDEAS
    2. Timonen, Jouni, 1995. "Nominal income as an intermediate target for monetary policy," Research Discussion Papers 21/1995, Bank of Finland.
    3. Timonen, Jouni, 1995. "Nominal income as an intermediate target for monetary policy," Bank of Finland Research Discussion Papers 21/1995, Bank of Finland.
    4. Michael J. Dueker, 1993. "Indicators of monetary policy: the view from implicit feedback rules," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 23-40.
    5. Srinivasan, Naveen & Jain, Sumit & Ramachandran, M., 2009. "Monetary policy and the behaviour of inflation in India: Is there a need for institutional reform?," Journal of Asian Economics, Elsevier, vol. 20(1), pages 13-24, January.
    6. Bennett T. McCallum, 1984. "Credibility and monetary policy," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 105-135.
    7. Ruge-Murcia, Francisco J, 2003. "Inflation Targeting under Asymmetric Preferences," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 35(5), pages 763-785, October.
    8. Jeffrey A. Frankel, 1993. "Monetary regime choices for a semi-open country," Pacific Basin Working Paper Series 93-02, Federal Reserve Bank of San Francisco.
    9. Mishkin, F.S., 1998. "International Experiences with Different Monetary Policy Regimes," Papers 648, Stockholm - International Economic Studies.
    10. Lecarpentier-Moyal, Sylvie & Payelle, Nathalie, 2001. "Règle monétaire et cible de prévisions d’inflation," L'Actualité Economique, Société Canadienne de Science Economique, vol. 77(4), pages 531-568, décembre.
    11. Alan S. Blinder & Ricardo Reis, 2005. "Understanding the Greenspan standard," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Aug, pages 11-96.
    12. David Beckworth & Joshua R. Hendrickson, 2020. "Nominal GDP Targeting and the Taylor Rule on an Even Playing Field," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(1), pages 269-286, February.
    13. repec:pri:cepsud:114blinderreis is not listed on IDEAS
    14. Racette, Daniel & Raynauld, Jacques & Lauzon, Simon, 1992. "La règle monétaire de McCallum revue à la lumière de la méthodologie de Litterman," L'Actualité Economique, Société Canadienne de Science Economique, vol. 68(1), pages 262-282, mars et j.
    15. David Cobham & Athanasios Papadopoulos & George Zis, 2004. "The Cost of Political Intervention in Monetary Policy," International Finance, Wiley Blackwell, vol. 7(3), pages 471-493, December.
    16. Joachim Scheide, 1989. "A K-percent rule for monetary policy in West Germany," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 125(2), pages 326-336, June.
    17. Alan S. Blinder & Ricardo Reis, 2005. "Understanding the Greenspan standard," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Aug, pages 11-96.
    18. Robert E. Hall & N. Gregory Mankiw, 1994. "Nominal Income Targeting," NBER Chapters, in: Monetary Policy, pages 71-94, National Bureau of Economic Research, Inc.
    19. D. Masciandaro, 2019. "What Bird Is That? Central Banking And Monetary Policy In The Last Forty Years," BAFFI CAREFIN Working Papers 19127, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    20. Mauricio Mayorga Martínez & Evelyn Muñoz Salas, 2004. "¿Existe disciplina de mercado en el sistema bancario costarricense?," Monetaria, CEMLA, vol. 0(3), pages 263-289, julio-sep.
    21. José R. Sánchez Fung, 2004. "Reglas monetarias, metas de inflación y sus aplicaciones potenciales de la República Dominicana," Monetaria, CEMLA, vol. 0(3), pages 291-323, julio-sep.
    22. Roisland, Oistein, 2001. "Institutional Arrangements for Monetary Policy When Output Is Persistent," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(4), pages 994-1014, November.

    More about this item

    Keywords

    Money supply; Gross domestic product;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedlrv:y:1993:i:may:p:15-29. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Scott St. Louis (email available below). General contact details of provider: https://edirc.repec.org/data/frbslus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.