This paper advances the hypothesis that the transition from there-is-little-central-banks-can-do-to-control-inflation … to inflation targeting occurred because central banks, especially the Federal Reserve, demonstrated that central banks … can control inflation rather than a consequence of marked improvement in the professions understanding of how monetary …

This paper studies the Great Inflation in Canada, Australia, and New Zealand. Newspaper coverage and policymakers …' statements are used to analyze the views on the inflation process that led to the 1970s macroeconomic policies, and the different … to use the monetary policy neglect hypothesis, which claims that the Great Inflation occurred because policymakers …

average inflation rate in an international cross-section. We find that inflationary regimes in certain countries are duration …

monetary policy for a given inflation target and a given level of productivity. We augment this model with regime switching in …

This paper examines the association between inflation, monetary policy and U.S. stock market conditions during the … second half of the 20th century. We use a latent-variable VAR to estimate the impact of inflation and other macroeconomic … shocks promote market booms and inflation shocks contribute to busts. Further, we find that inflation shocks can explain more …

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