caa a22 4500 467980748 CHVBK 20180323112518.0 cr unu---uuuuu 170328e19901201xx s 000 0 eng 10.1007/BF02707472 doi (NATIONALLICENCE)springer-10.1007/BF02707472 Hall Thomas aut McCallum's base growth rule: Results for the United States, West Germany, Japan, and Canada [Elektronische Daten] [Thomas Hall] Conclusions: The results presented here suggest that McCallum's rule for base growth deserves serious consideration by policymakers. The rule is extremely simple and the results here indicate that the growth rule may go a long way towards prescribing a policy that can reduce inflation without inducing additional nominal GNP variability, especially for the United States and Canada. Our results also demonstrate that the rule is not a precondition to achieving stable prices and nominal GNP growth. The fact that the Bundesbank and the Bank of Japan have outperformed the growth rule during the 1980s suggests that a fruitful area of future research would be a comprehensive investigation of monetary policy in West Germany and Japan. This task has already been undertaken by Fischer [1988], Neumann [1990], and Suzuki et al. [1990]. Institut fur Weltwirtschaft an der Universitat Kiel, 1990 Weltwirtschaftliches Archiv Springer-Verlag 126/4(1990-12-01), 630-642 0043-2636 126:4<630 1990 126 10290 https://doi.org/10.1007/BF02707472 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/BF02707472 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Hall Thomas aut NATIONALLICENCE 773 0- Weltwirtschaftliches Archiv Springer-Verlag 126/4(1990-12-01), 630-642 0043-2636 126:4<630 1990 126 10290 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer