Construct · 1 fields · 1 citations

McCallum rule: a standalone construct

One name. One construct. A landmark on the map.

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Monetary economics

a monetary policy rule that adjusts monetary base growth to keep nominal GDP on a target path while correcting for shifts in velocity.

In monetary economics, McCallum rule refers to a monetary policy rule that adjusts monetary base growth to keep nominal GDP on a target path while correcting for shifts in velocity. This meaning comes from Mccallum (1988) in Carnegie-Rochester Conference Series on Public Policy.[1]

Unit
Recovery means
Measured by

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Nearby constructs

base3 fields · 4 citationsjingle · one word, three constructs growth4 fields · 4 citationsjingle · one word, four constructs nominal2 fields · 2 citationsjingle · one word, two constructs

References

Mccallum, B. T. (1988). Robustness properties of a rule for monetary policy. Carnegie-Rochester Conference Series on Public Policy, 29, 173-203. https://doi.org/10.1016/0167-2231(88)90011-5

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