and the Fed pursued, at least officially, a monetary targeting strategy. We explain the analytical fallacies that underlay … monetary targeting resulted in institutional choices that continue to prevent monetary policy from achieving the Union's stated … objectives in an optimal manner to this day. Considering that the quantity theory of money underlying monetary targeting is also …

frequent failure and the persistence of monetary targeting until the 1990s, which requires explanation, on the basis of the …

frequent failure and the persistence of monetary targeting until the 1990s, which requires explanation, on the basis of the …