The following list is intended to provide convenient links to downloadable versions of papers on monetary policy authored or coauthored by Edward Nelson. The list is in reverse chronological order.
1. “Money and the Transmission Mechanism in the
Optimizing IS-LM Specification,” CEPR Discussion Paper No. 3898, May 2003. Presented at the History of Political Economy Conference on “The IS-LM Model: Its
Rise, Fall, and Strange Persistence,” Duke University, April 25-27, 2003.
Link: http://www.econ.ucdavis.edu/faculty/kdhoover/hope.html
4. “The Future of Monetary Aggregates in
Monetary Policy Analysis,” Journal of
Monetary Economics, Vol. 50(5), July 2003, forthcoming. Also CEPR Discussion Paper No. 3897, May
2003.
Link:
http://www.cepr.org/pubs/new-dps/dplist.asp?dpno=3897
5.
“An Interview with Anna J. Schwartz.”
In preparation.
6. “The Exchange Rate and Inflation in the
UK.” Presented at conference “Policy
Rules—The Next Steps,” Cambridge University, UK, September 19-20, 2002. Bank of England External MPC Unit Discussion
Paper No. 11, October 2002, and CEPR Discussion Paper No. 3783, February
2003. (With Amit Kara.)
Link: http://www.bankofengland.co.uk/mpc/extmpcpaper0011.pdf
7. “The Real-Interest-Rate Gap as an Inflation
Indicator,” Macroeconomic Dynamics,
Vol. 7(2), April 2003, pp. 239-262. (With Katharine S. Neiss.)
8. Discussion of Christopher J. Erceg and Andrew T. Levin,
“Optimal Monetary Policy with Durable and Non-Durable Goods,” International
Research Forum on Monetary Policy, ECB, Frankfurt, July 5-6, 2002.
Link: http://www.ecb.int/events/conf/intforum/material/Nelson.pdf
9. “Inflation Dynamics, Marginal Cost, and the Output Gap: Evidence from Three Countries,” manuscript, revised July 2002. Presented at the Federal Reserve Bank of San Francisco/SIEPR Conference on Macroeconomic Models for Monetary Policy, March 2002, and at the International Seminar on Macroeconomics (ISOM), June 2002, ECB, Frankfurt. (With Katharine S. Neiss.)
Link: http://www.nber.org/~confer/2002/isom02/nelson.pdf
10. “News-Magazine Monetarism,” CEPR Discussion
Paper No. 3506, August 2002. Forthcoming in K. Matthews and P. Minford (eds.), Money Matters: Essays in Honour of Alan
Walters. Cheltenham, UK: Edward
Elgar, 2003.
Link: http://www.cepr.org/pubs/new-dps/dplist.asp?dpno=3506
11. “Comment on: ‘A
Simple Framework for International Monetary Policy Analysis’ by Richard
Clarida, Jordi Galí, and Mark Gertler,” Journal
of Monetary Economics, Vol. 49(5), July 2002, pp. 905-912.
12. “Direct Effects of Base
Money on Aggregate Demand: Theory and Evidence,” Journal of Monetary Economics, Vol. 49(4), May 2002, pp. 687-708.
13. “Monetary Policy and Stagflation in the UK,” Bank of England Working Paper No. 155, May 2002, and CEPR Discussion Paper No. 3458, July 2002. Journal of Money, Credit, and Banking, forthcoming. (With Kalin Nikolov.)
Link: http://www.bankofengland.co.uk/workingpapers/wp155.pdf
14. “UK Inflation in the 1970s and 1980s: The Role of Output Gap Mismeasurement,” CEPR Discussion Paper No. 2999, October 2001; Bank of England Working Paper No.148, December 2001. Journal of Economics and Business, forthcoming. (With Kalin Nikolov.)
Link: http://www.bankofengland.co.uk/workingpapers/wp148.pdf
15. “What Does the
UK’s Monetary Policy and Inflation Experience Tell Us About the Transmission
Mechanism?,” CEPR Discussion Paper No. 3047,October 2001. In L. Mahadeva and P. Sinclair (eds.), Monetary Transmission in Diverse Economies.
Cambridge, UK: Cambridge University Press, 2002, pp. 137-155.
Link: http://www.cepr.org/Pubs/new-dps/dplist.asp?dpno=3047
16. “UK Monetary Policy
1972–97: A Guide Using Taylor Rules,” CEPR Discussion Paper No. 2931, August
2001 [revised November 2001].
Forthcoming in P. Mizen (ed.), Central
Banking, Monetary Theory and Practice: Essays in Honour of Charles Goodhart,
Volume One. Cheltenham, UK: Edward Elgar, 2003.
Link: http://www.cepr.org/Pubs/new-dps/dplist.asp?dpno=2931
17. “The Lag from Monetary
Policy Actions to Inflation: Friedman Revisited,” International Finance, Vol. 4(3), Winter 2001, pp. 381-400. (With Nicoletta Batini.)
18. “Optimal Horizons
for Inflation Targeting,” Journal of
Economic Dynamics and Control, Vol. 25(6-7), June-July 2001, pp.
891–910.
(With Nicoletta Batini.)
19. “When the Bubble Bursts: Monetary Policy Rules and Foreign Exchange Market Behavior,” manuscript, Bank of England, October 2000. (With Nicoletta Batini.)
Link: http://www.georgetown.edu/departments/economics/seminars/MonetaryPolicy/Battini&Nelson.pdf
20. “Timeless Perspective
vs. Discretionary Monetary Policy in Forward-Looking Models,” NBER Working
Paper No. 7915, September 2000. (With Bennett T. McCallum.)
Link: http://wpweb2.tepper.cmu.edu/faculty/mccallum/TPrule2.pdf
21. “Monetary Policy
for an Open Economy: An Alternative Approach with Optimizing Agents and Sticky
Prices,” Oxford Review of Economic Policy
Vol. 16(4), Winter 2000, pp. 74–91. (With Bennett T. McCallum.)
Link to longer version: http://www.bankofengland.co.uk/mpc/extmpcpaper0005.pdf
22. “Nominal Income
Targeting in an Open-Economy Optimizing Model,” Journal of Monetary Economics Vol. 43(3), June 1999, pp. 553–578. (With Bennett T. McCallum.)
Link to older version: http://www.tepper.cmu.edu/afs/andrew/gsia/bm05/w6675.pdf
23. “Performance of
Operational Policy Rules in an Estimated Semi-Classical Structural Model,” in:
John B. Taylor (ed.), Monetary Policy
Rules. Chicago: University of
Chicago Press for NBER, 1999, pp. 15–45. (With Bennett T. McCallum.)
24. “An Optimizing IS-LM
Specification for Monetary Policy and Business Cycle Analysis,” Journal of Money, Credit, and Banking
Vol. 31(3), August 1999, pp. 296–316. (With Bennett T. McCallum.)
25. “Sluggish Inflation and
Optimizing Models of the Business Cycle,” Journal
of Monetary Economics Vol. 42(2), July 1998, pp. 303–322.