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Details about Edward Nelson

Homepage:https://sites.google.com/site/edwardnelsonresearch/
Phone:(202) 452 2032
Postal address:Edward Nelson Division of Monetary Affairs Federal Reserve Board 20th and C Streets NW Washington DC 20551 USA
Workplace:Federal Reserve Board (Board of Governors of the Federal Reserve System), (more information at EDIRC)

Access statistics for papers by Edward Nelson.

Last updated 2026-07-16. Update your information in the RePEc Author Service.

Short-id: pne58


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Working Papers

2026

  1. The Practice of U.S. Monetary Policy Independence from Martin to Greenspan
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads

2025

  1. A Look Back at "Look Through"
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads
  2. From Friedman to Taylor: The Revival of Monetary Policy Rules in the 1990s
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads

2024

  1. Continuity and Change in the Federal Reserve’s Perspective on Price Stability
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (1)
    See also Journal Article Continuity and Change in the Federal Reserve's Perspective on Price Stability, Review, Federal Reserve Bank of St. Louis (2025) Downloads (2025)

2022

  1. How Did It Happen?: The Great Inflation of the 1970s and Lessons for Today
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads

2021

  1. The Emergence of Forward Guidance As a Monetary Policy Tool
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (2)

2019

  1. Karl Brunner and U.K. Monetary Debate
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads
  2. The Monetary Base in Allan Meltzer's Analytical Framework
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads

2018

  1. Seven Fallacies Concerning Milton Friedman's \"The Role of Monetary Policy\"
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (1)
    See also Journal Article Seven Fallacies Concerning Milton Friedman's “The Role of Monetary Policy”, Journal of Money, Credit and Banking, Blackwell Publishing (2020) Downloads View citations (1) (2020)
  2. The Money View Versus the Credit View
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (7)
    Also in CEPR Discussion Papers, Centre for Economic Policy Research (2018) Downloads View citations (8)

2017

  1. Reaffirming the Influence of Milton Friedman on U.K. Economic Policy
    Working Papers, University of Sydney, School of Economics Downloads View citations (1)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2017) Downloads View citations (1)
  2. The Continuing Validity of Monetary Policy Autonomy Under Floating Exchange Rates
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (1)
    See also Journal Article The Continuing Validity of Monetary Policy Autonomy under Floating Exchange Rates, International Journal of Central Banking, International Journal of Central Banking (2020) Downloads View citations (2) (2020)

2013

  1. Trend inflation in advanced economies
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (5)
    See also Journal Article Trend Inflation in Advanced Economies, International Journal of Central Banking, International Journal of Central Banking (2015) Downloads View citations (32) (2015)

2012

  1. The Federal Reserve's large-scale asset purchase programs: rationale and effects
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (230)
    Also in CEPR Discussion Papers, Centre for Economic Policy Research (2012) Downloads View citations (231)

    See also Journal Article The Federal Reserve's Large‐scale Asset Purchase Programmes: Rationale and Effects, Economic Journal, Royal Economic Society (2012) Downloads View citations (139) (2012)
  2. The correlation between money and output in the United Kingdom: resolution of a puzzle
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads

2011

  1. A review of Allan Meltzer's \"A History of the Federal Reserve, Volume 2\"
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads
    See also Journal Article A Review of Allan Meltzer’s A History of the Federal Reserve, Volume 2, International Journal of Central Banking, International Journal of Central Banking (2012) Downloads View citations (2) (2012)
  2. Friedman's monetary economics in practice
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (4)
    See also Journal Article Friedman's monetary economics in practice, Journal of International Money and Finance, Elsevier (2013) Downloads View citations (24) (2013)

2010

  1. Money and inflation: some critical issues
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (14)
    See also Chapter Money and Inflation: Some Critical Issues, Handbook of Monetary Economics, Elsevier (2010) Downloads View citations (39) (2010)
  2. Postwar Financial Crises and Economic Recoveries in the United States
    MPRA Paper, University Library of Munich, Germany Downloads View citations (37)

2009

  1. Euro Membership as a U.K. Monetary Policy Option: Results from a Structural Model
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2009) Downloads View citations (2)

    See also Chapter Euro Membership as a U.K. Monetary Policy Option: Results from a Structural Model, NBER Chapters, National Bureau of Economic Research, Inc (2010) Downloads View citations (2) (2010)
  2. Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound
    CEPR Discussion Papers, Centre for Economic Policy Research Downloads View citations (9)
    See also Journal Article Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound, International Journal of Central Banking, International Journal of Central Banking (2010) Downloads View citations (109) (2010)
  3. Milton Friedman and U.K. economic policy: 1938-1979
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (2)
    See also Journal Article Milton Friedman and U.K. economic policy: 1938-1979, Review, Federal Reserve Bank of St. Louis (2009) Downloads View citations (4) (2009)
  4. The Great Inflation in the United States and the United Kingdom: Reconciling Policy Decisions and Data Outcomes
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (14)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2009) Downloads View citations (14)

    See also Chapter The Great Inflation in the United States and the United Kingdom: Reconciling Policy Decisions and Data Outcomes, NBER Chapters, National Bureau of Economic Research, Inc (2013) Downloads View citations (13) (2013)

2008

  1. Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (31)
    See also Journal Article Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy, Journal of Monetary Economics, Elsevier (2008) Downloads View citations (38) (2008)
  2. Money and the Natural Rate of Interest: Structural Estimates for the United States and the Euro Area
    CEPR Discussion Papers, Centre for Economic Policy Research Downloads View citations (1)
    Also in Working Papers, Banco de España (2008) Downloads View citations (3)
    Working Papers, Federal Reserve Bank of St. Louis (2007) Downloads View citations (3)

    See also Journal Article Money and the natural rate of interest: Structural estimates for the United States and the euro area, Journal of Economic Dynamics and Control, Elsevier (2009) Downloads View citations (101) (2009)
  3. The impact of Milton Friedman on modern monetary economics: setting the record straight on Paul Krugman’s 'Who Was Milton Friedman?
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (21)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) Downloads View citations (4)

    See also Journal Article The impact of Milton Friedman on modern monetary economics: Setting the record straight on Paul Krugman's "Who was Milton Friedman?", Journal of Monetary Economics, Elsevier (2008) Downloads View citations (23) (2008)
  4. Why money growth determines inflation in the long run: answering the Woodford critique
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (73)
    See also Journal Article Why Money Growth Determines Inflation in the Long Run: Answering the Woodford Critique, Journal of Money, Credit and Banking, Blackwell Publishing (2008) Downloads View citations (12) (2008)

2007

  1. An estimated DSGE model for the United Kingdom
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (61)
    See also Journal Article An estimated DSGE model for the United Kingdom, Review, Federal Reserve Bank of St. Louis (2007) Downloads View citations (26) (2007)
  2. An overhaul of doctrine: the underpinning of U.K. inflation targeting
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (6)
    See also Journal Article An Overhaul of Doctrine: The Underpinning of UK Inflation Targeting, Economic Journal, Royal Economic Society (2009) View citations (10) (2009)
  3. Milton Friedman and U.S. monetary history: 1961-2006
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (8)
    See also Journal Article Milton Friedman and U.S. monetary history: 1961-2006, Review, Federal Reserve Bank of St. Louis (2007) Downloads View citations (25) (2007)
  4. The Great Inflation and Early Disinflation in Japan and Germany
    CEPR Discussion Papers, Centre for Economic Policy Research Downloads View citations (14)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2007) Downloads View citations (6)

    See also Journal Article The Great Inflation and Early Disinflation in Japan and Germany, International Journal of Central Banking, International Journal of Central Banking (2007) Downloads View citations (10) (2007)

2006

  1. Ireland and Switzerland: the jagged edges of the Great Inflation
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    See also Journal Article Ireland and Switzerland: The jagged edges of the Great Inflation, European Economic Review, Elsevier (2008) Downloads View citations (7) (2008)
  2. Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (13)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2006) Downloads View citations (6)

    See also Journal Article Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences, Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited (2005) View citations (31) (2005)
  3. U.K. inflation targeting and the exchange rate
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (10)

2005

  1. Monetary Policy Neglect and the Great Inflation in Canada, Australia, and New Zealand
    MPRA Paper, University Library of Munich, Germany Downloads View citations (36)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2004) Downloads View citations (5)

    See also Journal Article Monetary Policy Neglect and the Great Inflation in Canada, Australia, and New Zealand, International Journal of Central Banking, International Journal of Central Banking (2005) Downloads View citations (36) (2005)
  2. Sticky-Price Models and the Natural Rate Hypothesis
    Working Papers, Banco de España Downloads View citations (75)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2005) Downloads View citations (66)

    See also Journal Article Sticky-price models and the natural rate hypothesis, Journal of Monetary Economics, Elsevier (2005) Downloads View citations (71) (2005)
  3. The U.K.'s rocky road to stability
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (30)
    See also Journal Article The U.K.s rocky road to stability, Monetary Trends, Federal Reserve Bank of St. Louis (2004) Downloads View citations (1) (2004)

2004

  1. International evidence on the stability of the optimizing IS equation
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (10)
    See also Journal Article International Evidence on the Stability of the Optimizing IS Equation, Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford (2004) Downloads View citations (13) (2004)
  2. Money and the Natural Rate of Interest: Structural Estimates for the UK, the US and the euro area
    CEPR Discussion Papers, Centre for Economic Policy Research Downloads View citations (10)
  3. Targeting vs. Instrument Rules for Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (33)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2004) Downloads View citations (17)
  4. The Great Inflation of the seventies: what really happened?
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (27)
    See also Journal Article The Great Inflation of the Seventies: What Really Happened?, The B.E. Journal of Macroeconomics, De Gruyter (2005) Downloads View citations (97) (2005)
  5. Tobin's Imperfect Asset Substitution in Optimizing General Equilibrium
    CEPR Discussion Papers, Centre for Economic Policy Research Downloads View citations (153)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2004) Downloads View citations (177)
  6. Tobin's imperfect substitution in optimizing general equilibrium
    Working Papers, Banco de España Downloads View citations (18)

2003

  1. Money and the Transmission Mechanism in the Optimizing IS-LM Specification
    CEPR Discussion Papers, Centre for Economic Policy Research Downloads View citations (3)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2003)