ATESOGLU, H. SONMEZ; SMITHIN, JOHN - In: Journal of Post Keynesian Economics 28 (2006) 4, pp. 673-688
In this paper, we argue that an explicit inflation-targeting policy is not likely to be a desirable monetary policy rule, even if it were agreed that a lower inflation rate is an important goal of policy. Inflation targeting is not neutral in the short or the long run, and a strict policy will...