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Bennett T. McCallum

Bennett McCallum (1935-2022) was a consulting economist in the Research Department at the Federal Reserve Bank of Richmond from 1981 to 2011.

Working Papers

July 1986, No. 86-3

Theoretical Analysis of the Demand for Money

A model in which there is full contemporaneous adjustment of money holdings to transaction and opportunity-cost variables is shown to imply a positive coefficient on lagged money when these determinants are positively autocorrelated and contaminated with measurement error.

Bennett T. McCallum and Marvin Goodfriend
Bank Publications

Economic Quarterly, Second Quarter 2011

Should Central Banks Raise Their Inflation Targets? Some Relevant Issues

Bennett T. McCallum

Economic Quarterly, Winter 2009

Indeterminacy from Inflation Forecast Targeting: Problem or Pseudo-Problem?

Bennett T. McCallum

Economic Quarterly, Fall 2005

Monetary Policy and the Term Structure of Interest Rates

Bennett T. McCallum

Economic Quarterly, Winter 2003

Japanese Monetary Policy, 1991-2001

Bennett T. McCallum

Economic Quarterly, Winter 2002

Recent Developments in Monetary Policy Analysis: The Roles of Theory and Evidence

Bennett T. McCallum

Economic Quarterly, Winter 2000

Alternative Monetary Policy Rules: A Comparison with Historical Settings for the United States, the United Kingdom, and Japan

Bennett T. McCallum

Economic Quarterly, Fall 1996

Neoclassical vs. Endogenous Growth Analysis: An Overview

Bennett T. McCallum

Economic Quarterly, Spring 1993

Unit Roots in Macroeconomic Time Series: Some Critical Issues

Bennett T. McCallum

Economic Review, Jan/Feb, 1988

Theoretical Analysis of the Demand for Money

Marvin Goodfriend and Bennett T. McCallum

Economic Review, Sep/Oct, 1987

The Case for Rules in the Conduct of Monetary Policy: A Concrete Example

Bennett T. McCallum

Economic Review, Nov/Dec, 1982

Macroeconomics after a Decade of Rational Expectations: Some Critical Issues

Bennett T. McCallum

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