The Inflation-Targeting Debate

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ISBN: 9780226044736

Acknowledgments
 
Introduction
Ben Bernanke and Michael Woodford
1. What Has Inflation Targeting Achieved?
Mervyn King
 
I. Optimal Targets
2. Implementing Optimal Policy through Inflation-Forecast Targeting
Lars E. O. Svensson and Michael Woodford
Comment: Bennett T. McCallum
Discussion Summary
3. Optimal Inflation-Targeting Rules
Marc P. Giannoni and Michael Woodford
Comment: Edward Nelson
Discussion Summary
4. Inflation Targeting, Price-Path Targeting, and Output Variability
Stephen G. Cecchetti and Junhan Kim
Comment: N. Gregory Mankiw
Discussion Summary
5. Imperfect Knowledge, Inflation Expectations, and Monetary Policy
Athanasios Orphanides and John C. Williams
Comment: George W. Evans
Discussion Summary

II. Critical Perspectives
6. Does Inflation Targeting Matter?
Laurence Ball and Niamh Sheridan
Comment: Mark Gertler
Discussion Summary
7. Limits to Inflation Targeting
Christopher A. Sims
Comment: Stephanie Schmitt-Grohé
Discussion Summary
8. Inflation Targeting in the United States?
Marvin Goodfriend
Comment: Donald L. Kohn
Discussion Summary 
 
III. Inflation Targeting for Emerging Markets 

9. Inflation Targeting in Transition Economies: Experience and Prospects
Jiri Jonas and Frederic S. Mishkin
Comment: Olivier Blanchard
Discussion Summary
10. Inflation Targeting and Sudden Stops
Ricardo J. Caballero and Arvind Krishnamurthy
Comment: Ben S. Bernanke
Discussion Summary
 
Contributors
Author Index
Subject Index