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Record Nr. |
UNINA9910785079803321 |
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Titolo |
The Inflation-Targeting Debate / / Ben S. Bernanke, Michael Woodford |
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Pubbl/distr/stampa |
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Chicago : , : University of Chicago Press, , [2007] |
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©2004 |
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ISBN |
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1-281-12531-8 |
9786611125318 |
0-226-04473-4 |
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Descrizione fisica |
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1 online resource (468 p.) |
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Collana |
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National Bureau of Economic Research Studies in Business Cycles ; ; 32 |
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Disciplina |
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Soggetti |
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Electronic books |
Inflation (Finance) \ - Congresses |
Inflation (Finance) |
Monetary policy - Congresses |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references and index. |
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Nota di contenuto |
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Front matter -- Contents -- Acknowledgments -- Introduction -- 1. What Has Inflation Targeting Achieved? -- 2. Implementing Optimal Policy through Inflation-Forecast Targeting -- 3. Optimal Inflation-Targeting Rules -- 4. Inflation Targeting, Price-Path Targeting, and Output Variability -- 5. Imperfect Knowledge, Inflation Expectations, and Monetary Policy -- 6. Does Inflation Targeting Matter? -- 7. Limits to Inflation Targeting -- 8. Inflation Targeting in the United States? -- 9. Inflation Targeting in Transition Economies: Experience and Prospects -- 10. Inflation Targeting and Sudden Stops -- Contributors -- Author Index -- Subject Index |
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Sommario/riassunto |
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Over the past fifteen years, a significant number of industrialized and middle-income countries have adopted inflation targeting as a framework for monetary policymaking. As the name suggests, in such inflation-targeting regimes, the central bank is responsible for achieving a publicly announced target for the inflation rate. While the objective of controlling inflation enjoys wide support among both |
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academic experts and policymakers, and while the countries that have followed this model have generally experienced good macroeconomic outcomes, many important questions about inflation targeting remain. In Inflation Targeting, a distinguished group of contributors explores the many underexamined dimensions of inflation targeting-its potential, its successes, and its limitations-from both a theoretical and an empirical standpoint, and for both developed and emerging economies. The volume opens with a discussion of the optimal formulation of inflation-targeting policy and continues with a debate about the desirability of such a model for the United States. The concluding chapters discuss the special problems of inflation targeting in emerging markets, including the Czech Republic, Poland, and Hungary. |
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