P248 inflation targeting(2)

Is inflation targeting dead? Central Banking After the CrisisMeade, James (1978), “The Meaning of Internal Balance”, The Economic Journal, 88,423-435.Svensson, Lars (2009), “Flexible inflation targeting – lessons from the financial crisis”,speech at BIS.Tobin, James (1983), “Monetary policy: Rules, Targets and Shocks”, Journal of MoneyCredit and Banking, 15, 506-518.About the authorJeffrey Frankel is Harpel Professor at Harvard University’s Kennedy School ofGovernment. He directs the program in International Finance and Macroeconomicsat the National Bureau of Economic Research, where he is also on the Business CycleDating Committee, which officially declares US recessions. Professor Frankel servedat the Council of Economic Advisers in 1983-84 and 1996-99; he was appointed byBill Clinton as CEA Member with responsibility for macroeconomics, internationaleconomics, and the environment. Before moving east, he had been professor ofeconomics at the University of California, Berkeley, having joined the faculty in 1979.He is on advisory panels for the Federal Reserve Banks of New York and Boston, theBureau of Economic Analysis, and the Peterson Institute for International Economics.In the past he has visited the IIE, the IMF, and the Federal Reserve Board. His researchinterests include currencies, crises, commodities, international finance, monetary andfiscal policy, trade, and global environmental issues. He was born in San Francisco,graduated from Swarthmore College, and received his Economics PhD from MIT.94