Details about Edward Nelson

Homepage:	https://sites.google.com/site/edwardnelsonresearch/
Phone:	(202) 452 2032
Postal address:	Edward Nelson Division of Monetary Affairs Federal Reserve Board 20th and C Streets NW Washington DC 20551 USA
Workplace:	Federal Reserve Board (Board of Governors of the Federal Reserve System), (more information at EDIRC)

Access statistics for papers by Edward Nelson.

Last updated 2023-06-08. Update your information in the RePEc Author Service.

Short-id: pne58

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Working Papers

2024

1. Continuity and Change in the Federal Reserve’s Perspective on Price Stability
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)

2022

2. How Did It Happen?: The Great Inflation of the 1970s and Lessons for Today
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)

2021

3. The Emergence of Forward Guidance As a Monetary Policy Tool
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)

2019

4. Karl Brunner and U.K. Monetary Debate
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
5. The Monetary Base in Allan Meltzer's Analytical Framework
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)

2018

6. Seven Fallacies Concerning Milton Friedman's \"The Role of Monetary Policy\"
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
   See also Journal Article Seven Fallacies Concerning Milton Friedman's “The Role of Monetary Policy”, Journal of Money, Credit and Banking, Blackwell Publishing (2020) View citations (1) (2020)
7. The Money View Versus the Credit View
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (7)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) View citations (6)

2017

8. Reaffirming the Influence of Milton Friedman on U.K. Economic Policy
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
   Also in Working Papers, University of Sydney, School of Economics (2017) View citations (1)
9. The Continuing Validity of Monetary Policy Autonomy Under Floating Exchange Rates
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
   See also Journal Article The Continuing Validity of Monetary Policy Autonomy under Floating Exchange Rates, International Journal of Central Banking, International Journal of Central Banking (2020) View citations (2) (2020)

2013

10. Trend inflation in advanced economies
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (5)
    See also Journal Article Trend Inflation in Advanced Economies, International Journal of Central Banking, International Journal of Central Banking (2015) View citations (29) (2015)

2012

11. The Federal Reserve's large-scale asset purchase programs: rationale and effects
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (217)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) View citations (218)
    See also Journal Article The Federal Reserve's Large‐scale Asset Purchase Programmes: Rationale and Effects, Economic Journal, Royal Economic Society (2012) View citations (126) (2012)
12. The correlation between money and output in the United Kingdom: resolution of a puzzle
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)

2011

13. A review of Allan Meltzer's \"A History of the Federal Reserve, Volume 2\"
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
    See also Journal Article A Review of Allan Meltzer’s A History of the Federal Reserve, Volume 2, International Journal of Central Banking, International Journal of Central Banking (2012) View citations (1) (2012)
14. Friedman's monetary economics in practice
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (4)
    See also Journal Article Friedman's monetary economics in practice, Journal of International Money and Finance, Elsevier (2013) View citations (23) (2013)

2010

15. Money and inflation: some critical issues
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (14)
    See also Chapter Money and Inflation: Some Critical Issues, Handbook of Monetary Economics, Elsevier (2010) View citations (39) (2010)
16. Postwar Financial Crises and Economic Recoveries in the United States
    MPRA Paper, University Library of Munich, Germany View citations (37)

2009

17. Euro Membership as a U.K. Monetary Policy Option: Results from a Structural Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2009) View citations (2)
    See also Chapter Euro Membership as a U.K. Monetary Policy Option: Results from a Structural Model, NBER Chapters, National Bureau of Economic Research, Inc (2010) View citations (2) (2010)
18. Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)
    See also Journal Article Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound, International Journal of Central Banking, International Journal of Central Banking (2010) View citations (108) (2010)
19. Milton Friedman and U.K. economic policy: 1938-1979
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)
    See also Journal Article Milton Friedman and U.K. economic policy: 1938-1979, Review, Federal Reserve Bank of St. Louis (2009) View citations (4) (2009)
20. The Great Inflation in the United States and the United Kingdom: Reconciling Policy Decisions and Data Outcomes
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2009) View citations (14)
    See also Chapter The Great Inflation in the United States and the United Kingdom: Reconciling Policy Decisions and Data Outcomes, NBER Chapters, National Bureau of Economic Research, Inc (2013) View citations (13) (2013)

2008

21. Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy
    Working Papers, Federal Reserve Bank of St. Louis View citations (31)
    See also Journal Article Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy, Journal of Monetary Economics, Elsevier (2008) View citations (37) (2008)
22. Money and the Natural Rate of Interest: Structural Estimates for the United States and the Euro Area
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2007) View citations (3)
    Working Papers, Banco de España (2008) View citations (3)
    See also Journal Article Money and the natural rate of interest: Structural estimates for the United States and the euro area, Journal of Economic Dynamics and Control, Elsevier (2009) View citations (94) (2009)
23. The impact of Milton Friedman on modern monetary economics: setting the record straight on Paul Krugman’s 'Who Was Milton Friedman?
    Working Papers, Federal Reserve Bank of St. Louis View citations (20)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (4)
    See also Journal Article The impact of Milton Friedman on modern monetary economics: Setting the record straight on Paul Krugman's "Who was Milton Friedman?", Journal of Monetary Economics, Elsevier (2008) View citations (23) (2008)
24. Why money growth determines inflation in the long run: answering the Woodford critique
    Working Papers, Federal Reserve Bank of St. Louis View citations (59)
    See also Journal Article Why Money Growth Determines Inflation in the Long Run: Answering the Woodford Critique, Journal of Money, Credit and Banking, Blackwell Publishing (2008) View citations (68) (2008)

2007

25. An estimated DSGE model for the United Kingdom
    Working Papers, Federal Reserve Bank of St. Louis View citations (59)
    See also Journal Article An estimated DSGE model for the United Kingdom, Review, Federal Reserve Bank of St. Louis (2007) View citations (24) (2007)
26. An overhaul of doctrine: the underpinning of U.K. inflation targeting
    Working Papers, Federal Reserve Bank of St. Louis View citations (6)
    See also Journal Article An Overhaul of Doctrine: The Underpinning of UK Inflation Targeting, Economic Journal, Royal Economic Society (2009) View citations (7) (2009)
27. Milton Friedman and U.S. monetary history: 1961-2006
    Working Papers, Federal Reserve Bank of St. Louis View citations (1)
    See also Journal Article Milton Friedman and U.S. monetary history: 1961-2006, Review, Federal Reserve Bank of St. Louis (2007) View citations (25) (2007)
28. The Great Inflation and Early Disinflation in Japan and Germany
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (14)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2007) View citations (6)
    See also Journal Article The Great Inflation and Early Disinflation in Japan and Germany, International Journal of Central Banking, International Journal of Central Banking (2007) View citations (10) (2007)

2006

29. Ireland and Switzerland: the jagged edges of the Great Inflation
    Working Papers, Federal Reserve Bank of St. Louis
    See also Journal Article Ireland and Switzerland: The jagged edges of the Great Inflation, European Economic Review, Elsevier (2008) View citations (7) (2008)
30. Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2006) View citations (6)
    See also Journal Article Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences, Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited (2005) View citations (31) (2005)
31. U.K. inflation targeting and the exchange rate
    Working Papers, Federal Reserve Bank of St. Louis View citations (10)

2005

32. Monetary Policy Neglect and the Great Inflation in Canada, Australia, and New Zealand
    MPRA Paper, University Library of Munich, Germany View citations (33)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2004) View citations (5)
    See also Journal Article Monetary Policy Neglect and the Great Inflation in Canada, Australia, and New Zealand, International Journal of Central Banking, International Journal of Central Banking (2005) View citations (33) (2005)
33. Sticky-Price Models and the Natural Rate Hypothesis
    Working Papers, Banco de España View citations (74)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2005) View citations (65)
    See also Journal Article Sticky-price models and the natural rate hypothesis, Journal of Monetary Economics, Elsevier (2005) View citations (70) (2005)
34. The U.K.'s rocky road to stability
    Working Papers, Federal Reserve Bank of St. Louis View citations (21)
    See also Journal Article The U.K.s rocky road to stability, Monetary Trends, Federal Reserve Bank of St. Louis (2004) View citations (1) (2004)

2004

35. International evidence on the stability of the optimizing IS equation
    Working Papers, Federal Reserve Bank of St. Louis View citations (9)
    See also Journal Article International Evidence on the Stability of the Optimizing IS Equation, Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford (2004) View citations (13) (2004)
36. Money and the Natural Rate of Interest: Structural Estimates for the UK, the US and the euro area
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)
37. Targeting vs. Instrument Rules for Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (33)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2004) View citations (12)
38. The Great Inflation of the seventies: what really happened?
    Working Papers, Federal Reserve Bank of St. Louis View citations (27)
    See also Journal Article The Great Inflation of the Seventies: What Really Happened?, The B.E. Journal of Macroeconomics, De Gruyter (2005) View citations (95) (2005)
39. Tobin's Imperfect Asset Substitution in Optimizing General Equilibrium
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (152)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2004) View citations (173)
40. Tobin's imperfect substitution in optimizing general equilibrium
    Working Papers, Banco de España View citations (18)

2003

41. Money and the Transmission Mechanism in the Optimizing IS-LM Specification
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2003) View citations (4)
    See also Journal Article Money and the Transmission Mechanism in the Optimizing IS-LM Specification, History of Political Economy, Duke University Press (2004) View citations (3) (2004)
42. The Exchange Rate and Inflation in the UK
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (29)
    Also in Discussion Papers, Monetary Policy Committee Unit, Bank of England (2002) View citations (26)
    See also Journal Article The Exchange Rate and Inflation in the UK, Scottish Journal of Political Economy, Scottish Economic Society (2003) View citations (32) (2003)
43. The Future of Monetary Aggregates in Monetary Policy Analysis
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (215)
    See also Journal Article The future of monetary aggregates in monetary policy analysis, Journal of Monetary Economics, Elsevier (2003) View citations (200) (2003)

2002

44. Monetary Policy and Stagflation in the UK
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (46)
    Also in Bank of England working papers, Bank of England (2002) View citations (40)
    See also Journal Article Monetary Policy and Stagflation in the UK, Journal of Money, Credit and Banking, Blackwell Publishing (2004) View citations (60) (2004)
45. News-Magazine Monetarism
    CEPR Discussion Papers, C.E.P.R. Discussion Papers

2001

46. Direct Effects of Base Money on Aggregate Demand: Theory and Evidence
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
    Also in Bank of England working papers, Bank of England (2000) View citations (30)
    See also Journal Article Direct effects of base money on aggregate demand: theory and evidence, Journal of Monetary Economics, Elsevier (2002) View citations (165) (2002)
47. Monetary Policy for an Open Economy: An Alternative Framework with Optimising Agents and Sticky Prices
    Discussion Papers, Monetary Policy Committee Unit, Bank of England View citations (22)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2001) View citations (65)
    NBER Working Papers, National Bureau of Economic Research, Inc (2001) View citations (68)
    See also Journal Article Monetary Policy for an Open Economy: An Alternative Framework with Optimizing Agents and Sticky Prices, Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited (2000) View citations (201) (2000)
48. The Lag from Monetary Policy Actions to Inflation: Friedman Revisited
    Discussion Papers, Monetary Policy Committee Unit, Bank of England View citations (134)
    See also Journal Article The Lag from Monetary Policy Actions to Inflation: Friedman Revisited, International Finance, Wiley Blackwell (2001) View citations (131) (2001)
49. The Real Interest Rate Gap as an Inflation Indicator
    Computing in Economics and Finance 2001, Society for Computational Economics View citations (91)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2001) View citations (136)
    Bank of England working papers, Bank of England (2001) View citations (61)
    See also Journal Article THE REAL-INTEREST-RATE GAP AS AN INFLATION INDICATOR, Macroeconomic Dynamics, Cambridge University Press (2003) View citations (137) (2003)
50. Timeless Perspective Vs Discretionary Monetary Policy in Forward-Looking Models
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (83)
    See also Journal Article Timeless perspective vs. discretionary monetary policy in forward-looking models, Review, Federal Reserve Bank of St. Louis (2004) View citations (135) (2004)
51. UK Inflation in the 1970s and 1980s: The Role of Output Gap Mismeasurement
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (19)
    Also in Bank of England working papers, Bank of England (2001) View citations (22)
    See also Journal Article UK inflation in the 1970s and 1980s: the role of output gap mismeasurement, Journal of Economics and Business, Elsevier (2003) View citations (52) (2003)
52. UK Monetary Policy 1972-97: A Guide Using Taylor Rules
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (45)
    Also in Bank of England working papers, Bank of England (2000) View citations (100)
53. What Does the UK's Monetary Policy and Inflation Experience Tell Us About the Transmission Mechanism?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (36)

2000

54. Nominal Income Targeting in an Open-Economy Optimizing Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (51)
    Also in Working Papers, Stockholm - International Economic Studies (1998) View citations (25)
    Seminar Papers, Stockholm University, Institute for International Economic Studies (1998) View citations (38)
    See also Journal Article Nominal income targeting in an open-economy optimizing model, Journal of Monetary Economics, Elsevier (1999) View citations (422) (1999)
55. Optimal Horizons for Inflation Targeting
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) View citations (35)
    Also in Bank of England working papers, Bank of England (2000) View citations (43)
    Computing in Economics and Finance 1999, Society for Computational Economics (1999) View citations (17)
    See also Journal Article Optimal horizons for inflation targeting, Journal of Economic Dynamics and Control, Elsevier (2001) View citations (85) (2001)
56. When the Bubble Bursts: Monetary Policy Rules and Foreign Exchange Market Behavior
    Working Papers, University of Sydney, School of Economics View citations (67)

1998

57. Performance of Operational Policy Rules in an Estimated Semi-Classical Structural Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (146)
    Also in GSIA Working Papers, Carnegie Mellon University, Tepper School of Business
    See also Journal Article Performance of operational policy rules in an estimated semi-classical structural model, Proceedings, Federal Reserve Bank of San Francisco (1998) View citations (70) (1998)
    Chapter Performance of Operational Policy Rules in an Estimated Semiclassical Structural Model, NBER Chapters, National Bureau of Economic Research, Inc (1999) View citations (222) (1999)

1997

58. An Optimizing IS-LM Specification for Monetary Policy and Business Cycle Analysis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (202)
    Also in GSIA Working Papers, Carnegie Mellon University, Tepper School of Business
    See also Journal Article An Optimizing IS-LM Specification for Monetary Policy and Business Cycle Analysis, Journal of Money, Credit and Banking, Blackwell Publishing (1999) View citations (414) (1999)

Journal Articles

2020

1. Seven Fallacies Concerning Milton Friedman's “The Role of Monetary Policy”
   Journal of Money, Credit and Banking, 2020, 52, (1), 145-164 View citations (1)
   See also Working Paper Seven Fallacies Concerning Milton Friedman's \"The Role of Monetary Policy\", Finance and Economics Discussion Series (2018) View citations (1) (2018)
2. The Continuing Validity of Monetary Policy Autonomy under Floating Exchange Rates
   International Journal of Central Banking, 2020, 16, (2), 81-123 View citations (2)
   See also Working Paper The Continuing Validity of Monetary Policy Autonomy Under Floating Exchange Rates, Finance and Economics Discussion Series (2017) View citations (1) (2017)

2015

3. Trend Inflation in Advanced Economies
   International Journal of Central Banking, 2015, 11, (4), 65-136 View citations (29)
   See also Working Paper Trend inflation in advanced economies, Finance and Economics Discussion Series (2013) View citations (5) (2013)

2013

4. Friedman's monetary economics in practice
   Journal of International Money and Finance, 2013, 38, (C), 59-83 View citations (23)
   See also Working Paper Friedman's monetary economics in practice, Finance and Economics Discussion Series (2011) View citations (4) (2011)
5. Key aspects of longer-term asset purchase programs in UK and US monetary policy
   Oxford Economic Papers, 2013, 65, (suppl_1), i92-i114 View citations (2)

2012

6. A Review of Allan Meltzer’s A History of the Federal Reserve, Volume 2
   International Journal of Central Banking, 2012, 8, (2), 241-266 View citations (1)
   See also Working Paper A review of Allan Meltzer's \"A History of the Federal Reserve, Volume 2\", Finance and Economics Discussion Series (2011) (2011)
7. The Federal Reserve's Large‐scale Asset Purchase Programmes: Rationale and Effects
   Economic Journal, 2012, 122, (564), F415-F446 View citations (126)
   See also Working Paper The Federal Reserve's large-scale asset purchase programs: rationale and effects, Finance and Economics Discussion Series (2012) View citations (217) (2012)

2010

8. Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound
   International Journal of Central Banking, 2010, 6, (1), 143-189 View citations (108)
   See also Working Paper Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound, CEPR Discussion Papers (2009) View citations (9) (2009)
9. Panel Discussion: The SNB's Monetary Policy Framework Ten Years On
   Swiss Journal of Economics and Statistics (SJES), 2010, 146, (I), 409-423

2009

10. An Overhaul of Doctrine: The Underpinning of UK Inflation Targeting
    Economic Journal, 2009, 119, (538), F333-F368 View citations (7)
    Also in Economic Journal, 2009, 119, (538), F333-F368 (2009) View citations (10)
    See also Working Paper An overhaul of doctrine: the underpinning of U.K. inflation targeting, Working Papers (2007) View citations (6) (2007)
11. Milton Friedman and U.K. economic policy: 1938-1979
    Review, 2009, 91, (Sep), 465-506 View citations (4)
    See also Working Paper Milton Friedman and U.K. economic policy: 1938-1979, Working Papers (2009) View citations (2) (2009)
12. Money and the natural rate of interest: Structural estimates for the United States and the euro area
    Journal of Economic Dynamics and Control, 2009, 33, (3), 758-776 View citations (94)
    See also Working Paper Money and the Natural Rate of Interest: Structural Estimates for the United States and the Euro Area, CEPR Discussion Papers (2008) View citations (1) (2008)

2008

13. Commercial bank balance sheets rebalanced
    Monetary Trends, 2008, (Jun)
14. Friedman and Taylor on monetary policy rules: a comparison
    Review, 2008, 90, (Mar), 95-116 View citations (14)
15. Ireland and Switzerland: The jagged edges of the Great Inflation
    European Economic Review, 2008, 52, (4), 700-732 View citations (7)
    See also Working Paper Ireland and Switzerland: the jagged edges of the Great Inflation, Working Papers (2006) (2006)
16. Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy
    Journal of Monetary Economics, 2008, 55, (Supplement 1), S48-S62 View citations (37)
    See also Working Paper Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy, Working Papers (2008) View citations (31) (2008)
17. Rejoinder to Paul Krugman
    Journal of Monetary Economics, 2008, 55, (4), 861-862 View citations (3)
18. The great recapitalization
    Monetary Trends, 2008, (Dec)
19. The impact of Milton Friedman on modern monetary economics: Setting the record straight on Paul Krugman's "Who was Milton Friedman?"
    Journal of Monetary Economics, 2008, 55, (4), 835-856 View citations (23)
    See also Working Paper The impact of Milton Friedman on modern monetary economics: setting the record straight on Paul Krugman’s 'Who Was Milton Friedman?, Working Papers (2008) View citations (20) (2008)
20. Why Money Growth Determines Inflation in the Long Run: Answering the Woodford Critique
    Journal of Money, Credit and Banking, 2008, 40, (8), 1791-1814 View citations (68)
    Also in Journal of Money, Credit and Banking, 2008, 40, (8), 1791-1814 (2008) View citations (9)
    See also Working Paper Why money growth determines inflation in the long run: answering the Woodford critique, Working Papers (2008) View citations (59) (2008)

2007

21. An estimated DSGE model for the United Kingdom
    Review, 2007, 89, (Jul), 215-232 View citations (24)
    See also Working Paper An estimated DSGE model for the United Kingdom, Working Papers (2007) View citations (59) (2007)
22. Comment on: Samuel Reynard, "Maintaining low inflation: Money, interest rates, and policy stance"
    Journal of Monetary Economics, 2007, 54, (5), 1472-1479 View citations (13)
23. Milton Friedman and U.S. monetary history: 1961-2006
    Review, 2007, 89, (May), 153-182 View citations (25)
    See also Working Paper Milton Friedman and U.S. monetary history: 1961-2006, Working Papers (2007) View citations (1) (2007)
24. Milton Friedman on inflation
    Monetary Trends, 2007, (Jan) View citations (1)
25. The Great Inflation and Early Disinflation in Japan and Germany
    International Journal of Central Banking, 2007, 3, (4), 23-76 View citations (10)
    See also Working Paper The Great Inflation and Early Disinflation in Japan and Germany, CEPR Discussion Papers (2007) View citations (14) (2007)

2006

26. Goodbye to M3
    Monetary Trends, 2006, (Apr) View citations (1)
27. United Kingdom Inflation Targeting and the Exchange Rate
    Economic Journal, 2006, 116, (512), F232-F244 View citations (24)

2005

28. Commentary on \\"targeting versus instrument rules for monetary policy: what is wrong with McCallum and Nelson?\\"
    Review, 2005, 87, (Sep), 627-632 View citations (2)
29. Monetary Policy Neglect and the Great Inflation in Canada, Australia, and New Zealand
    International Journal of Central Banking, 2005, 1, (1) View citations (33)
    See also Working Paper Monetary Policy Neglect and the Great Inflation in Canada, Australia, and New Zealand, MPRA Paper (2005) View citations (33) (2005)
30. Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences
    Oxford Review of Economic Policy, 2005, 21, (4), 565-583 View citations (31)
    See also Working Paper Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences, NBER Working Papers (2006) View citations (13) (2006)
31. Paul Samuelson and monetary analysis
    Monetary Trends, 2005, (Apr)
32. Sticky-price models and the natural rate hypothesis
    Journal of Monetary Economics, 2005, 52, (5), 1025-1053 View citations (70)
    See also Working Paper Sticky-Price Models and the Natural Rate Hypothesis, Working Papers (2005) View citations (74) (2005)
33. Targeting versus instrument rules for monetary policy
    Proceedings, 2005, 225-245 View citations (36)
    Also in Review, 2005, 87, (Sep), 597-612 (2005) View citations (53)
34. The Great Inflation of the Seventies: What Really Happened?
    The B.E. Journal of Macroeconomics, 2005, 5, (1), 50 View citations (95)
    See also Working Paper The Great Inflation of the seventies: what really happened?, Working Papers (2004) View citations (27) (2004)

2004

35. Budget deficits and interest rates
    Monetary Trends, 2004, (Mar) View citations (1)
36. International Evidence on the Stability of the Optimizing IS Equation
    Oxford Bulletin of Economics and Statistics, 2004, 66, (s1), 687-712 View citations (13)
    See also Working Paper International evidence on the stability of the optimizing IS equation, Working Papers (2004) View citations (9) (2004)
37. Monetary Policy and Stagflation in the UK
    Journal of Money, Credit and Banking, 2004, 36, (3), 293-318 View citations (60)
    See also Working Paper Monetary Policy and Stagflation in the UK, CEPR Discussion Papers (2002) View citations (46) (2002)
38. Money and the Transmission Mechanism in the Optimizing IS-LM Specification
    History of Political Economy, 2004, 36, (5), 271-304 View citations (3)
    See also Working Paper Money and the Transmission Mechanism in the Optimizing IS-LM Specification, CEPR Discussion Papers (2003) View citations (3) (2003)
39. The U.K.s rocky road to stability
    Monetary Trends, 2004, (Oct) View citations (1)
    See also Working Paper The U.K.'s rocky road to stability, Working Papers (2005) View citations (21) (2005)
40. Timeless perspective vs. discretionary monetary policy in forward-looking models
    Review, 2004, 86, (Mar), 43-56 View citations (135)
    See also Working Paper Timeless Perspective Vs Discretionary Monetary Policy in Forward-Looking Models, CEPR Discussion Papers (2001) View citations (3) (2001)

2003

41. THE REAL-INTEREST-RATE GAP AS AN INFLATION INDICATOR
    Macroeconomic Dynamics, 2003, 7, (2), 239-262 View citations (137)
    See also Working Paper The Real Interest Rate Gap as an Inflation Indicator, Computing in Economics and Finance 2001 (2001) View citations (91) (2001)
42. The Exchange Rate and Inflation in the UK
    Scottish Journal of Political Economy, 2003, 50, (5), 585-608 View citations (32)
    See also Working Paper The Exchange Rate and Inflation in the UK, CEPR Discussion Papers (2003) View citations (29) (2003)
43. The future of monetary aggregates in monetary policy analysis
    Journal of Monetary Economics, 2003, 50, (5), 1029-1059 View citations (200)
    See also Working Paper The Future of Monetary Aggregates in Monetary Policy Analysis, CEPR Discussion Papers (2003) View citations (215) (2003)
44. UK inflation in the 1970s and 1980s: the role of output gap mismeasurement
    Journal of Economics and Business, 2003, 55, (4), 353-370 View citations (52)
    See also Working Paper UK Inflation in the 1970s and 1980s: The Role of Output Gap Mismeasurement, CEPR Discussion Papers (2001) View citations (19) (2001)

2002

45. Comment on: A simple framework for international monetary policy analysis
    Journal of Monetary Economics, 2002, 49, (5), 905-912 View citations (14)
46. Direct effects of base money on aggregate demand: theory and evidence
    Journal of Monetary Economics, 2002, 49, (4), 687-708 View citations (165)
    See also Working Paper Direct Effects of Base Money on Aggregate Demand: Theory and Evidence, CEPR Discussion Papers (2001) View citations (3) (2001)
47. Inflation dynamics, marginal cost, and the output gap: evidence from three countries
    Proceedings, 2002, (Mar) View citations (82)

2001

48. Optimal horizons for inflation targeting
    Journal of Economic Dynamics and Control, 2001, 25, (6-7), 891-910 View citations (85)
    See also Working Paper Optimal Horizons for Inflation Targeting, Working Paper Series (2000) View citations (35) (2000)
49. The Lag from Monetary Policy Actions to Inflation: Friedman Revisited
    International Finance, 2001, 4, (3), 381-400 View citations (131)
    See also Working Paper The Lag from Monetary Policy Actions to Inflation: Friedman Revisited, Discussion Papers (2001) View citations (134) (2001)

2000

50. Monetary Policy for an Open Economy: An Alternative Framework with Optimizing Agents and Sticky Prices
    Oxford Review of Economic Policy, 2000, 16, (4), 74-91 View citations (201)
    See also Working Paper Monetary Policy for an Open Economy: An Alternative Framework with Optimising Agents and Sticky Prices, Discussion Papers (2001) View citations (22) (2001)

1999

51. An Optimizing IS-LM Specification for Monetary Policy and Business Cycle Analysis
    Journal of Money, Credit and Banking, 1999, 31, (3), 296-316 View citations (414)
    See also Working Paper An Optimizing IS-LM Specification for Monetary Policy and Business Cycle Analysis, NBER Working Papers (1997) View citations (202) (1997)
52. Nominal income targeting in an open-economy optimizing model
    Journal of Monetary Economics, 1999, 43, (3), 553-578 View citations (422)
    See also Working Paper Nominal Income Targeting in an Open-Economy Optimizing Model, NBER Working Papers (2000) View citations (51) (2000)

1998

53. Performance of operational policy rules in an estimated semi-classical structural model
    Proceedings, 1998, (Mar) View citations (70)
    See also Chapter Performance of Operational Policy Rules in an Estimated Semiclassical Structural Model, NBER Chapters, 1999, 15-56 (1999) View citations (222) (1999)
    Working Paper Performance of Operational Policy Rules in an Estimated Semi-Classical Structural Model, NBER Working Papers (1998) View citations (146) (1998)
54. Sluggish inflation and optimizing models of the business cycle
    Journal of Monetary Economics, 1998, 42, (2), 303-322 View citations (110)

Books

2020

1. Milton Friedman and Economic Debate in the United States, 1932–1972, Volume 1
   University of Chicago Press Economics Books, University of Chicago Press View citations (27)
2. Milton Friedman and Economic Debate in the United States, 1932–1972, Volume 2
   University of Chicago Press Economics Books, University of Chicago Press View citations (17)

Chapters

2013

1. The Great Inflation in the United States and the United Kingdom: Reconciling Policy Decisions and Data Outcomes
   A chapter in The Great Inflation: The Rebirth of Modern Central Banking, 2013, pp 393-438 View citations (13)
   See also Working Paper The Great Inflation in the United States and the United Kingdom: Reconciling Policy Decisions and Data Outcomes, National Bureau of Economic Research, Inc (2009) View citations (14) (2009)

2012

2. A Comparison with Milton Friedman
   Chapter 4 in The Taylor Rule and the Transformation of Monetary Policy, 2012

2010

3. Euro Membership as a U.K. Monetary Policy Option: Results from a Structural Model
   A chapter in Europe and the Euro, 2010, pp 415-439 View citations (2)
   See also Working Paper Euro Membership as a U.K. Monetary Policy Option: Results from a Structural Model, National Bureau of Economic Research, Inc (2009) View citations (4) (2009)
4. Money and Inflation: Some Critical Issues
   Chapter 03 in Handbook of Monetary Economics, 2010, vol. 3, pp 97-153 View citations (39)
   See also Working Paper Money and inflation: some critical issues, Board of Governors of the Federal Reserve System (U.S.) (2010) View citations (14) (2010)

1999

5. Performance of Operational Policy Rules in an Estimated Semiclassical Structural Model
   A chapter in Monetary Policy Rules, 1999, pp 15-56 View citations (222)
   See also Working Paper Performance of Operational Policy Rules in an Estimated Semi-Classical Structural Model, National Bureau of Economic Research, Inc (1998) View citations (146) (1998)
   Journal Article Performance of operational policy rules in an estimated semi-classical structural model, Federal Reserve Bank of San Francisco (1998) View citations (70) (1998)