Estimating the Long-Run Relationship Between Interest Rates and Inflation: A Response to McCallum
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https://www.nber.org/papers/w1448
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This note demonstrates that Bennett McCallum's recent critique of low frequency estimates of macro-economic relationships is of little empirical significance. It also demonstrates that readily available and frequently used techniques can be used to diagnose the problem McCallum raises. Finally, it
提供机构：
美国国家经济研究局
创建时间：
1984-09-01
