288
Views
26
CrossRef citations to date
0
Altmetric
Original Article

Inflation targeting, economic performance, and income distribution: a monetary macroeconomics analysis

&
Pages 615-638 | Published online: 08 Dec 2014

References

  • Abraham-Frois, G. "Pour en finir avec IS-LM: Quelques propositions pour simplifier l'enseignement de la macro-économie en premier cycle" [To Give Up IS-LM: Some Propositions to Simplify Teaching Macroeconomics to Undergraduates]. Revue d'économie politique, March-April 2003, 113 (2), 155-170.
  • Allsopp, C., and Vines, D. "The Assessment: Macroeconomic Policy." Oxford Review of Economic Policy, Winter 2000, 16 (4), 1-32.
  • Angeriz, A., and Arestis, P. "Has Inflation Targeting Had Any Impact on Inflation?" Journal of Post Keynesian Economics, Summer 2006, 28 (4), 559-571.
  • Arestis, P., and Sawyer, M. "Inflation Targeting: A Critical Appraisal." Working Paper No. 388, Levy Economics Institute, Annandale-on-Hudson, NY, September 2003.
  • ------. "Interest Rates and the Real Economy." In C. Gnos and L.-P. Rochon (eds.), Post Keynesian Principles of Economic Policy. Cheltenham, UK: Edward Elgar, 2006, pp. 3-21.
  • Argitis, G., and Pitelis, C. "Monetary Policy and the Distribution of Income: Evidence for the United States and the United Kingdom." Journal of Post Keynesian Economics, Summer 2001, 23 (4), 617-638.
  • Atesoglu, H.S. "Inflation and Investment in the United States." Investigación Economica, April-June 2005, 64 (252), 15-20.
  • Atesoglu, H.S., and Smithin, J. "Inflation Targeting in a Simple Macroeconomic Model." Journal of Post Keynesian Economics, Summer 2006, 28 (4), 673-688.
  • Ball, L. "What Determines the Sacrifice Ratio?" In N.G. Mankiw (ed.), Monetary Policy. Chicago: University of Chicago Press, 1994, pp. 155-182.
  • Ball, L., and Sheridan, N. "Does Inflation Targeting Matter?" De Nederlandsche Bank Staff Report No. 118, Amsterdam, 2004.
  • Barro, R.J., and Grossman, H.I. "Suppressed Inflation and the Supply Multiplier." Review of Economic Studies, January 1974, 41 (1), 87-104.
  • Bernanke, B.S.; Laubach, T.; Mishkin, F.S.; and Posen, A.S. Inflation Targeting: Lessons from the International Experience. Princeton: Princeton University Press, 1999.
  • Blanchard, O.J. "Comments on 'Inflation Targeting in Transition Economies: Experience and Prospects' by Jonas Jiri and Frederic Mishkin." In B.S. Bernanke and
  • M. Woodford (eds.), The Inflation Targeting Debate. Chicago: University of Chicago Press, 2005, pp. 413-421.
  • Brunner, K.; Fratianni, M.; Jordan, J.L.; Meltzer, A.H.; and Neumann, M.J.M. "Fiscal and Monetary Policies in Moderate Inflation: Case Studies of Three Countries."
  • Journal of Money, Credit and Banking, February 1973, 5 (1), 313-353. Clifton, E.; Hyginus, L.; and Wong, C.-H. "Inflation Targeting and the Unemployment-Inflation Trade-Off." Working Paper No. 166, International Monetary Fund, Washington, DC, 2001.
  • Corbo, V.; Landerretche, Ó.; and Schmidt-Hebbel, K. "Does Inflation Targeting Make a Difference?" In N. Loayza and R. Soto (eds.), inflation targeting: Design, Performance, Challenges. Santiago: Central Bank of Chile, 2002, pp. 221-269.
  • Cukierman, A. "Does a Higher Sacrifice Ratio Mean That Central Bank Independence Is Excessive?" Annals of Economics and Finance, May 2002, 3 (1), 1-25.
  • Davidson, P. Money and the Real World. New York: John Wiley & Sons, 1972.
  • Debelle, G.; Masson, P.; Savastano, M.; and Sharma, S. "Inflation Targeting as a Framework for Monetary Policy." Economic Issues, No. 15, International Monetary Fund, Washington, DC, 1998.
  • Down, I. "Central Bank Independence, Disinflations, and the Sacrifice Ratio." Comparative Political Studies, May 2004, 37 (4), 399-434.
  • Epstein, G. "Alternatives to Inflation Targeting Monetary Policy for Stable and Egalitarian Growth: A Brief Research Summary." Working Paper No. 62, Political Economy Research Institute, University of Massachusetts, Amherst, July 2003.
  • Fraga, A.; Goldfajn, I.; and Minella, A. "Inflation Targeting in Emerging Market Economies." In M. Gertler and K. Rogoff (eds.), NBER Macroeconomics Annual 2003. Cambridge, MA: MIT Press, 2004, pp. 365-400.
  • Gnos, C., and Rochon, L.-P. "The New Consensus, the Taylor Rule and Inflation Targeting: A Post-Keynesian Alternative." Paper presented at the Eastern Economic Association annual conference, New York, March 5, 2005.
  • King, M.A. "The Inflation Target Ten Years On." Bank of England Quarterly Bulletin, Winter 2002, 42 (4), 459-474.
  • Lavoie, M. Foundations of Post Keynesian Analysis. Aldershot, UK: Edward Elgar, 1992.
  • ------. "The New Consensus on Monetary Policy Seen from a Post-Keynesian Perspective." In M. Lavoie and M. Seccareccia (eds.), Central Banking in the Modern World: Alternative Perspectives. Cheltenham, UK: Edward Elgar, 2004, pp. 15-34.
  • ------. "A Post-Keynesian Amendment to the New Consensus on Monetary Policy." Metroeconomica, 2006, 57 (2), 165-192.
  • Machlup, F. "Another View of Cost-Push and Demand-Pull Inflation." Review of Economics and Statistics, May 1960, 42 (2), 125-139.
  • Meyer, L. "Inflation Targets and Inflation Targeting." Federal Reserve Bank of St. Louis Review, November-December 2001, 83 (6), 1-13.
  • Mishkin, F.S. "What Monetary Policy Can and Cannot Do." In Oesterreichische Nationalbank (ed.), Monetary Policy in Transition in East and West: Strategies, Instruments and Transmission Mechanisms. Vienna: Oesterreichische Nationalbank, 1996, pp. 13-32.
  • ------. "International Experiences with Different Monetary Policy Regimes." Journal of Monetary Economics, June 1999, 43 (3), 579-605.
  • ------. "What Should Central Banks Do?" Federal Reserve Bank of St. Louis Review, November-December 2000, 82 (6), 1-13.
  • Mishkin, F.S., and Schmidt-Hebbel, K. "A Decade of Inflation Targeting in the World: What Do We Know and What Do We Need to Know?" In N. Loayza and R. Soto (eds.), Inflation Targeting: Design, Performance, Challenges. Santiago: Central Bank of Chile, 2002, pp. 171-219.
  • Monvoisin, V., and Rochon, L.-P. "Post-Keynesian Theories of Endogenous Money, the New Consensus and Keynes." In C. Gnos and L.-P. Rochon (eds.), Post Keynesian Principles of Economic Policy. Cheltenham, UK: Edward Elgar, 2006, pp. 59-80.
  • Neumann, M.J.M., and von Hagen, J. "Does Inflation Targeting Matter?" Federal Reserve Bank of St. Louis Review, July-August 2002, 84 (4), 127-148.
  • Rochon, L.-P. Credit, Money and Production: An Alternative Post-Keynesian Approach. Cheltenham, UK: Edward Elgar, 1999.
  • ------. "Wicksell After the Taylor Rule: A Post-Keynesian Critique of the New Consensus." Laurentian University, Sudbury, Ontario, 2004.
  • Roger, S., and Stone, M. "On Target? The International Experience with Achieving Inflation Targets." Working Paper No. 05/163, International Monetary Fund, Washington, DC, August 2005.
  • Rogers, C. Money, Interest and Capital: A Study in the Foundations of Monetary Theory. Cambridge: Cambridge University Press, 1989.
  • Rossi, S. "Inflation Targeting and Sacrifice Ratios: The Case of the European Central Bank." International Journal of Political Economy, Summer 2004, 34 (2), 69-85.
  • Rudebusch, G., and Walsh, C. "U.S. Inflation Targeting: Pro and Con." Federal Reserve Bank of San Francisco Economic Letter, No. 18, 1998.
  • Smithin, J. Controversies in Monetary Economics: Ideas, Issues and Policy. Aldershot, UK: Edward Elgar, 1994.
  • ------. Controversies in Monetary Economics: Ideas, Issues and Policy, Revised Edition. Cheltenham, UK: Edward Elgar, 2003.
  • Sterne, G. "Inflation Targets in a Global Context." In N. Loayza and R. Soto (eds.), Inflation Targeting: Design, Performance, Challenges. Santiago: Central Bank of Chile, 2002, pp. 23-77.
  • Tapia, M. "Conclusions from Inflation Targeting Conference." Central Banking, February 2001, 11 (3), 44-49.
  • Taylor, J.B. "Discretion Versus Policy Rules in Practice." Carnegie-Rochester Conference Series on Public Policy, December 1993, 39, 195-214.
  • Truman, E.M. "Inflation Targeting from a Global Perspective." Paper presented at the Central Bank of Brazil Conference Three Years of Inflation Targeting, Rio de Janeiro, May 17, 2002.
  • Villieu, P. "Une macroéconomie sans LM? Un modèle de synthèse pour l'analyse des politiques conjoncturelles" [Macroeconomics Without LM? A Synthesis Model for Business Cycle Policy Analysis]. Revue d'économie politique, May-June 2004, 114 (3), 289-322.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.