"The Shadow Open Market Committee was formed in 1973 in response to rising inflation and the apparent unwillingness of … stabilization of monetary growth favored by the Shadow would have lowered inflation with less impact on output growth and less … variability in inflation or output than a one-time reduction in monetary growth. We conclude that the Shadow articulated a policy …

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy … allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of … the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing …

Over the past fifteen years, a significant number of industrialized and middle-income countries have adopted inflation … targeting as a framework for monetary policymaking. As the name suggests, in such inflation-targeting regimes, the central bank … is responsible for achieving a publicly announced target for the inflation rate. While the objective of controlling …