The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Changes in the Federal Reserve's Inflation Target: Causes and Consequences
Open accessAbstract
This paper estimates a New Keynesian model to draw inferences about the behavior of the Federal Reserve's unobserved inflation target. The results indicate that the target rose from 1 1/4% in 1959 to over 8% in the mid to late 1970s before falling back below 2 1/2% in 2004. The results also provide some support for the hypothesis that over the entire post‐war period, Federal Reserve policy has systematically translated short‐run price pressures set off by supply‐side shocks into more persistent movements in inflation itself, although considerable uncertainty remains about the true source of shifts in the inflation target.
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Citations
Cites
Discretion versus policy rules in practice
Taylor, J. B. (1993) · Carnegie-Rochester Conference Series on Public Policy · doi:10.1016/0167-2231(93)90009-l · Cited by 9,065
Metadata
- Authors
- IRELAND, P. N.
- Venue
- Journal of Money, Credit and Banking
- Publisher
- Wiley
- Published
- 2007-11-20
- Volume
- 39
- Issue
- 8
- Pages
- 1851-1882
- ISSN
- 0022-2879 (ISSN-L)
- 1538-4616
- OpenAlex
- W2116484752
- Cited by
- 423
- References
- 1
- FWCI
- 51.29
- Type
- journal article
- Language
- en
- Open access
- bronze
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- IRELAND, P. N. (2007). Changes in the Federal Reserve's Inflation Target: Causes and Consequences. Journal of Money, Credit and Banking. https://doi.org/10.1111/j.1538-4616.2007.00091.x
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
