Faugere, Christophe - In: International Journal of Financial Studies : open … 12 (2024) 1, pp. 1-34
This article provides a macro-foundation for why the specific value of 2% is a valid inflation target. The approach … is tested for the U.S. (for aggregates M1, M1RS, and M1S) over the period 1959-2007. Setting the inflation target rate …