Time-to-produce or a Keynesian is curve?. Reply to John McCallum

Zvi Hercowitz*

*Corresponding author for this work

Research output: Contribution to journalLetterpeer-review


This note comments on McCallum's conclusion that the estimates of a reduced-form output equation from an open-economy neoclassical model with a production lag capture in fact an IS curve type of mechanism.

Original languageEnglish
Pages (from-to)151-153
Number of pages3
JournalJournal of Monetary Economics
Issue number1
StatePublished - Jan 1990


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