NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Determinacy, Learnability, Plausibility, and the Role of Money in New Keynesian Models

Bennett T. McCallum

NBER Working Paper No. 18215
Issued in July 2012

---- Acknowledgements -----

I am indebted to Marvin Goodfriend, Patrick Minford, Max Gillman, and Michael Magill for helpful suggestions. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research. At the time at which this paper was first drafted, I had a consulting relationship with the Federal Reserve Bank of Richmond. Also, an early version of the paper was presented at a conference held by the Swiss National Bank.

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