Details about Edward Nelson

Access statistics for papers by Edward Nelson.

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Short-id: pne58

Working Papers

2012

1. 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 (1)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) View citations (1)
   See also Journal Article in Economic Journal (2012)
2. 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

3. 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 in International Journal of Central Banking (2012)
4. Friedman's monetary economics in practice
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)

2010

5. Money and inflation: some critical issues
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
   See also Chapter (2010)

2009

6. 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 (2)
   Also in Working Papers, Federal Reserve Bank of St. Louis (2009) View citations (1)
   See also Chapter (2010)
7. Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
   See also Journal Article in International Journal of Central Banking (2010)
8. Milton Friedman and U.K. economic policy: 1938-1979
   Working Papers, Federal Reserve Bank of St. Louis
   See also Journal Article in Review (2009)
9. 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 (1)
   Also in Working Papers, Federal Reserve Bank of St. Louis (2009) View citations (1)

2008

10. Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy
    Working Papers, Federal Reserve Bank of St. Louis View citations (6)
    See also Journal Article in Journal of Monetary Economics (2008)
11. 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 Banco de España Working Papers, Banco de España (2008) View citations (1)
    Working Papers, Federal Reserve Bank of St. Louis (2007) View citations (1)
    See also Journal Article in Journal of Economic Dynamics and Control (2009)
12. 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
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007)
    See also Journal Article in Journal of Monetary Economics (2008)
13. Why money growth determines inflation in the long run: answering the Woodford critique
    Working Papers, Federal Reserve Bank of St. Louis View citations (5)
    See also Journal Article in Journal of Money, Credit and Banking (2008)

2007

14. An estimated DSGE model for the United Kingdom
    Working Papers, Federal Reserve Bank of St. Louis View citations (22)
    See also Journal Article in Review (2007)
15. An overhaul of doctrine: the underpinning of U.K. inflation targeting
    Working Papers, Federal Reserve Bank of St. Louis View citations (3)
    See also Journal Article in Economic Journal (2009)
16. Milton Friedman and U.S. monetary history: 1961-2006
    Working Papers, Federal Reserve Bank of St. Louis
    See also Journal Article in Review (2007)
17. The Great Inflation and Early Disinflation in Japan and Germany
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2007) View citations (3)
    See also Journal Article in International Journal of Central Banking (2007)

2006

18. Ireland and Switzerland: the jagged edges of the Great Inflation
    Working Papers, Federal Reserve Bank of St. Louis
    See also Journal Article in European Economic Review (2008)
19. Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2006) View citations (1)
    See also Journal Article in Oxford Review of Economic Policy (2005)
20. U.K. inflation targeting and the exchange rate
    Working Papers, Federal Reserve Bank of St. Louis View citations (3)

2005

21. Monetary Policy Neglect and the Great Inflation in Canada, Australia, and New Zealand
    MPRA Paper, University Library of Munich, Germany View citations (10)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2004) View citations (2)
    See also Journal Article in International Journal of Central Banking (2005)
22. Sticky-Price Models and the Natural Rate Hypothesis
    Banco de España Working Papers, Banco de España View citations (31)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2005) View citations (31)
    See also Journal Article in Journal of Monetary Economics (2005)
23. The U.K.'s rocky road to stability
    Working Papers, Federal Reserve Bank of St. Louis View citations (7)
    See also Journal Article in Monetary Trends (2004)

2004

24. International evidence on the stability of the optimizing IS equation
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)
    See also Journal Article in Oxford Bulletin of Economics and Statistics (2004)
25. 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 (7)
26. Targeting vs. Instrument Rules for Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2004) View citations (11)
27. The Great Inflation of the seventies: what really happened?
    Working Papers, Federal Reserve Bank of St. Louis View citations (17)
    See also Journal Article in The B.E. Journal of Macroeconomics (2005)
28. Tobin's Imperfect Asset Substitution in Optimizing General Equilibrium
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (12)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2004) View citations (38)
29. Tobin's imperfect substitution in optimizing general equilibrium
    Banco de España Working Papers, Banco de España View citations (4)

2003

30. Money and the Transmission Mechanism in the Optimizing IS-LM Specification
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2003) View citations (3)
    See also Journal Article in History of Political Economy (2004)
31. The Exchange Rate and Inflation in the UK
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)
    Also in Discussion Papers, Monetary Policy Committee Unit, Bank of England (2002) View citations (14)
    See also Journal Article in Scottish Journal of Political Economy (2003)
32. The Future of Monetary Aggregates in Monetary Policy Analysis
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (88)
    See also Journal Article in Journal of Monetary Economics (2003)

2002

33. Monetary Policy and Stagflation in the UK
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (30)
    Also in Bank of England working papers, Bank of England (2002) View citations (9)
    See also Journal Article in Journal of Money, Credit and Banking (2004)
34. News-Magazine Monetarism
    CEPR Discussion Papers, C.E.P.R. Discussion Papers

2001

35. Direct Effects of Base Money on Aggregate Demand: Theory and Evidence
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
    Also in Bank of England working papers, Bank of England (2000) View citations (9)
    See also Journal Article in Journal of Monetary Economics (2002)
36. 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 (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2001) View citations (30)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2001) View citations (45)
    See also Journal Article in Oxford Review of Economic Policy (2000)
37. The Lag from Monetary Policy Actions to Inflation: Friedman Revisited
    Discussion Papers, Monetary Policy Committee Unit, Bank of England View citations (47)
    See also Journal Article in International Finance (2001)
38. The Real Interest Rate Gap as an Inflation Indicator
    Computing in Economics and Finance 2001, Society for Computational Economics View citations (73)
    Also in Bank of England working papers, Bank of England (2001) View citations (6)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2001) View citations (115)
    See also Journal Article in Macroeconomic Dynamics (2003)
39. Timeless Perspective Vs Discretionary Monetary Policy in Forward-Looking Models
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (19)
    See also Journal Article in Review (2004)
40. UK Inflation in the 1970s and 1980s: The Role of Output Gap Mismeasurement
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
    Also in Bank of England working papers, Bank of England (2001) View citations (8)
    See also Journal Article in Journal of Economics and Business (2003)
41. UK Monetary Policy 1972-97: A Guide Using Taylor Rules
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (14)
    Also in Bank of England working papers, Bank of England (2000) View citations (9)
42. 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 (14)

2000

43. An Optimizing IS-LM Specification for Monetary Policy and Business Cycle Analysis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (131)
    Also in GSIA Working Papers, Carnegie Mellon University, Tepper School of Business
    See also Journal Article in Journal of Money, Credit and Banking (1999)
44. Nominal Income Targeting in an Open-Economy Optimizing Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (97)
    Also in Working Papers, Stockholm - International Economic Studies (1998) View citations (11)
    Seminar Papers, Stockholm University, Institute for International Economic Studies (1998) View citations (16)
    See also Journal Article in Journal of Monetary Economics (1999)
45. Optimal Horizons for Inflation Targeting
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) View citations (25)
    Also in Computing in Economics and Finance 1999, Society for Computational Economics (1999) View citations (11)
    Bank of England working papers, Bank of England (2000) View citations (18)
    See also Journal Article in Journal of Economic Dynamics and Control (2001)

1998

46. Performance of Operational Policy Rules in an Estimated Semi-Classical Structural Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (84)
    Also in GSIA Working Papers, Carnegie Mellon University, Tepper School of Business
    See also Chapter (1999)
    Journal Article in Proceedings (1998)

Journal Articles

2012

1. A Review of Allan Meltzer’s A History of the Federal Reserve, Volume 2
   International Journal of Central Banking, 2012, 8, (2), 241-266
   See also Working Paper (2011)
2. The Federal Reserve's Large‐scale Asset Purchase Programmes: Rationale and Effects
   Economic Journal, 2012, 122, (564), F415-F446 View citations (1)
   See also Working Paper (2012)

2010

3. Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound
   International Journal of Central Banking, 2010, 6, (1), 143-189 View citations (4)
   See also Working Paper (2009)
4. Panel Discussion: The SNB's Monetary Policy Framework Ten Years On
   Swiss Journal of Economics and Statistics (SJES), 2010, 146, (I), 409-423

2009

5. An Overhaul of Doctrine: The Underpinning of UK Inflation Targeting
   Economic Journal, 2009, 119, (538), F333-F368
   See also Working Paper (2007)
6. Milton Friedman and U.K. economic policy: 1938-1979
   Review, 2009, (Sep), 465-506
   See also Working Paper (2009)
7. 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 (7)
   See also Working Paper (2008)

2008

8. Commercial bank balance sheets rebalanced
   Monetary Trends, 2008, (Jun)
9. Friedman and Taylor on monetary policy rules: a comparison
   Review, 2008, (Mar), 95-116 View citations (1)
10. Ireland and Switzerland: The jagged edges of the Great Inflation
    European Economic Review, 2008, 52, (4), 700-732 View citations (1)
    See also Working Paper (2006)
11. Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy
    Journal of Monetary Economics, 2008, 55, (Supplement 1), S48-S62 View citations (6)
    See also Working Paper (2008)
12. Rejoinder to Paul Krugman
    Journal of Monetary Economics, 2008, 55, (4), 861-862
13. The great recapitalization
    Monetary Trends, 2008, (Dec)
14. 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 (3)
    See also Working Paper (2008)
15. 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 (6)
    See also Working Paper (2008)

2007

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

2006

21. Goodbye to M3
    Monetary Trends, 2006, (Apr)
22. United Kingdom Inflation Targeting and the Exchange Rate
    Economic Journal, 2006, 116, (512), F232-F244 View citations (8)

2005

23. Commentary on "targeting versus instrument rules for monetary policy: what is wrong with McCallum and Nelson?"
    Review, 2005, (Sep), 627-632
24. Monetary Policy Neglect and the Great Inflation in Canada, Australia, and New Zealand
    International Journal of Central Banking, 2005, 1, (1) View citations (5)
    See also Working Paper (2005)
25. Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences
    Oxford Review of Economic Policy, 2005, 21, (4), 565-583 View citations (2)
    See also Working Paper (2006)
26. Paul Samuelson and monetary analysis
    Monetary Trends, 2005, (Apr)
27. Sticky-price models and the natural rate hypothesis
    Journal of Monetary Economics, 2005, 52, (5), 1025-1053 View citations (35)
    See also Working Paper (2005)
28. Targeting versus instrument rules for monetary policy
    Proceedings, 2005, 225-245 View citations (10)
    Also in Review, 2005, (Sep), 597-612 (2005) View citations (9)
29. The Great Inflation of the Seventies: What Really Happened?
    The B.E. Journal of Macroeconomics, 2005, advances.5, (1), 3 View citations (26)
    See also Working Paper (2004)

2004

30. AN INTERVIEW WITH ANNA J. SCHWARTZ
    Macroeconomic Dynamics, 2004, 8, (03), 395-417
31. Budget deficits and interest rates
    Monetary Trends, 2004, (Mar) View citations (1)
32. International Evidence on the Stability of the Optimizing IS Equation
    Oxford Bulletin of Economics and Statistics, 2004, 66, (s1), 687-712 View citations (5)
    See also Working Paper (2004)
33. Monetary Policy and Stagflation in the UK
    Journal of Money, Credit and Banking, 2004, 36, (3), 293-318 View citations (20)
    See also Working Paper (2002)
34. Money and the Transmission Mechanism in the Optimizing IS-LM Specification
    History of Political Economy, 2004, 36, (5), 271-304 View citations (1)
    See also Working Paper (2003)
35. The U.K.’s rocky road to stability
    Monetary Trends, 2004, (Oct) View citations (1)
    See also Working Paper (2005)
36. Timeless perspective vs. discretionary monetary policy in forward-looking models
    Review, 2004, (Mar), 43-56 View citations (50)
    See also Working Paper (2001)

2003

37. THE REAL-INTEREST-RATE GAP AS AN INFLATION INDICATOR
    Macroeconomic Dynamics, 2003, 7, (02), 239-262 View citations (28)
    See also Working Paper (2001)
38. The Exchange Rate and Inflation in the UK
    Scottish Journal of Political Economy, 2003, 50, (5), 585-608 View citations (4)
    See also Working Paper (2003)
39. The future of monetary aggregates in monetary policy analysis
    Journal of Monetary Economics, 2003, 50, (5), 1029-1059 View citations (82)
    See also Working Paper (2003)
40. 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 (15)
    See also Working Paper (2001)

2002

41. Comment on: A simple framework for international monetary policy analysis
    Journal of Monetary Economics, 2002, 49, (5), 905-912 View citations (13)
42. Direct effects of base money on aggregate demand: theory and evidence
    Journal of Monetary Economics, 2002, 49, (4), 687-708 View citations (50)
    See also Working Paper (2001)
43. Inflation dynamics, marginal cost, and the output gap: evidence from three countries
    Proceedings, 2002, (Mar) View citations (52)

2001

44. Optimal horizons for inflation targeting
    Journal of Economic Dynamics and Control, 2001, 25, (6-7), 891-910 View citations (46)
    See also Working Paper (2000)
45. The Lag from Monetary Policy Actions to Inflation: Friedman Revisited
    International Finance, 2001, 4, (3), 381-400 View citations (38)
    See also Working Paper (2001)

2000

46. 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 (61)
    See also Working Paper (2001)

1999

47. 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 (121)
    See also Working Paper (2000)
48. Nominal income targeting in an open-economy optimizing model
    Journal of Monetary Economics, 1999, 43, (3), 553-578 View citations (190)
    See also Working Paper (2000)

1998

49. Performance of operational policy rules in an estimated semi-classical structural model
    Proceedings, 1998, (Mar) View citations (20)
    See also Chapter (1999)
    Working Paper (1998)
50. Sluggish inflation and optimizing models of the business cycle
    Journal of Monetary Economics, 1998, 42, (2), 303-322 View citations (64)

Chapters

2012

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

2010

2. 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
   See also Working Paper (2009)
3. Money and Inflation: Some Critical Issues
   Chapter 03 in Handbook of Monetary Economics, 2010, vol. 3, pp 97-153
   See also Working Paper (2010)

1999

4. Performance of Operational Policy Rules in an Estimated Semiclassical Structural Model
   A chapter in Monetary Policy Rules, 1999, pp 15-56 View citations (93)
   See also Working Paper (1998)
   Journal Article in Proceedings (1998)

Software Items