The text is now available of the discussion of of “Inflation targeting does not anchor inflation expectations: Evidence from firms in New Zeland” by Saten Kumar, Hassan Afrouzi, Olivier Coibion, and Yuriy Gorodnichenko at the Fall 2015 Brookings Panel on Economic Activity, Washington, DC, September 10-11, 2015.
Monthly Archives: November 2015
Panel presentation: Optimal Design for Monetary Policy in Post-Crisis Period
Panel discussion, “Optimal Design for Monetary Policy in the Post Crisis Period” (slides), at the conference “Monetary Policy Implementation and Transmission in the Post-Crisis Period,” Federal Reserve Board, Washington, DC, November 12-13, 2015.
Excel sheet used in slide 5 for the simple example of a cost-benefit analys of leaning against the wind.
Discussion of Turner, “The Case for Monetary Finance – An Essentially Political Issue”
Discussion (slides) of Adair Turner, “The Case for Monetary Finance – An Essentially Political Issue,” at the 16th IMF Annual Research Conference, “Unconventional Monetary and Exchange Rate Polices,” November 5-6, 2015, IMF, Washington, DC.
Video (my discussion starts 25 minutes into the session).
A more rigorous and analytical treatment of the issue is available in this paper by Willem Buiter.