Ireland, Peter N. (contributor) - 2005 - This version: August 2005
true source of shifts in the inflation target. …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 percent in 1959 to over 8 percent in the mid-to-late 1970 …