Is inflation targeting dead? Central Banking After the Crisis - Vox

Is inflation targeting dead? Central Banking After the CrisisWoodford, Michael (2003), Interest and Prices: Foundations of a Theory of MonetaryPolicy. Princeton University Press.About the authorsMarkus K. Brunnermeier is the Edwards S. Sanford Professor at PrincetonUniversity. He is a faculty member of the Department of Economics and affiliated withPrinceton’s Bendheim Center for Finance and the International Economics Section. Heis the founding director of Princeton’s Julis Rabinowitz Center for Public Policy andFinance. He is also a research associate at CEPR, NBER, and CESifo. He is memberof the Advisory Scientific Committee of the ESRB, the research advisory council ofthe Bundesbank, and an advisory group of the IMF. He is an academic consultant toNew York Fed and a founding member of the Euro-nomics group. Brunnermeier wasawarded his Ph.D. by the London School of Economics (LSE), where he was affiliatedwith its Financial Markets Group.His research focuses on financial markets and the macroeconomy with special emphasison bubbles, liquidity, financial stability and implications for financial regulation andmonetary policy. To explore these topics, his models incorporate frictions as well asbehavioral elements. He is a Sloan Research Fellow, Fellow of the Econometric Societyand the recipient of the Bernácer Prize granted for outstanding contributions in thefields of macroeconomics and finance. He recently received a Guggenheim Fellowshipfor studying the impact of financial frictions on the macroeconomy. In 2010 he wasnamed a Fellow of the Econometric Society.Yuliy Sannikov is a Professor of Economics at Princeton University whose researchinterests include economic theory, corporate finance and macroeconomics withfinancial frictions. Yuliy Sannikov got his BA from Princeton and a PhD from StanfordGSB. Professor Sannikov was an invited panel speaker at several meetings of theEconometric Society, including North American Meetings in 2006, Latin American in2008, East Asian in 2009, and the World Congress in 2010. He is a Sloan Fellow in102