Does the adoption of an inflation target by a country have an effect on that country's rate of inflation and on inflation's interaction with real economic variables? Does inflation targeting alter private-sector expectations? The question of effectiveness must be posed as a counterfactual -did...

Originally appeared in the Federal Reserve Bank of Dallas Review, June 1977, p. 1-9

originally appeared in the Federal Reserve Bank of Minneapolis Quarterly Review, Spring 1978

Originally appeared in the Federal Reserve Bank of Philadelphia Business Review, February 1970, p. 23-30

Originally appeared in the Federal Reserve Bank of Philadelphia Business Review, September 1973, p. 16-25

Speech at the Blue Key Honor Society Annual Awards Dinner at the University of Georgia, September 19, 1975