Book of Donmon Teith

Many central banks target an inflation rate near two percent. This essay argues that policymakers would do better to target four percent inflation. A four perce

Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring t

This paper asks whether inflation targeting improves economic performance, as measured by the behavior of inflation, output, and interest rates. We compare seve

Many central banks target an inflation rate near two percent. This essay argues that policymakers would do better to target four percent inflation. A four perce

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, i