Year: 2005
Type: article
Abstract: Svensson's 2003 argument (Journal of Economic Literature, June 2003, 41(2)) is based largely on four main objections to the latter, plus a claim concerning the relative interest-instrument variability entailed by the two approaches. The authors advance arguments that contradict his objections and discuss general targeting rules and actual central bank practice.
Authors: Bennett T. McCallum, Edward Nelson
Institution: National Bureau of Economic Research
Language: English
Domain: Social Sciences
Open Access status: gold
OpenAlex ID: W4242947529