03989nam 2200589 a 450 991082765650332120200520144314.01-281-12531-897866111253180-226-04473-410.7208/9780226044736(CKB)1000000000410634(EBL)408541(OCoLC)437248244(StDuBDS)EDZ0000115704(DE-B1597)524848(OCoLC)781254234(DE-B1597)9780226044736(MiAaPQ)EBC408541(EXLCZ)99100000000041063420040726d2005 uy 0engur|nu---|u||utxtrdacontentcrdamediacrrdacarrierThe inflation-targeting debate /edited by Ben S. Bernanke and Michael Woodford1st ed.Chicago University of Chicago Pressc20051 online resource (468 p.)National Bureau of Economic Research--studies in business cycles ;v. 32"This volume grew out of a National Bureau of Economic Research (NBER) conference on inflation targeting held in Bal Harbour, Florida, in January 2003"--p. ix.0-226-04471-8 Includes bibliographical references and indexes.What has inflation targeting achieved? / Mervyn King -- Implementing optimal policy through inflation-forecast targeting / Lars E.O. Svensson and Michael Woodford -- Optimal inflation-targeting rules / Marc P. Giannoni and Michael Woodford -- Inflation targeting, price-path targeting, and output variability / Stephen G. Cecchetti and Junhan Kim -- Imperfect knowledge, inflation expectations, and monetary policy / Athanasios Orphanides and John C. Williams -- Does inflation targeting matter? / Laurence Ball and Niamh Sheridan -- Limits to inflation targeting / Christopher A. Sims -- Inflation targeting in the United States? / Marvin Goodfriend -- Inflation targeting in transition economies : experience and prospects / Jiri Jonas and Frederic S. Mishkin -- Inflation targeting and sudden stops / Ricardo J. Caballero and Arvind Krishnamurthy.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 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.Studies in business cycles ;no. 32.Inflation (Finance)CongressesMonetary policyCongressesInflation (Finance)Monetary policy332.4/1Bernanke Ben765161Woodford Michael1955-123416National Bureau of Economic Research.MiAaPQMiAaPQMiAaPQBOOK9910827656503321The inflation-targeting debate4202227UNINA