NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Great Inflation

Michael D. Bordo and Athanasios Orphanides, editors

Conference held September 25-27, 2008
Forthcoming from University of Chicago Press


The following chapters are preliminary drafts unless otherwise noted. They have not yet been subjected to the formal review process of the NBER. This page will be updated as individual chapters are revised.

Table of Contents

Front matter, table of contents, preface: Michael D. Bordo, Athanasios Orphanides

Introduction: Michael Bordo, Athanasios Orphanides (bibliographic info) (download)

Panel Session I, Practical Experiences in Reducing Inflation: A View from the Trenches: Michael D. Bordo, Athanasios Orphanides (bibliographic info) (download)

Panel Session I, remarks: John Crow

Panel Session I, remarks: Don Brash

Panel Session I, remarks: Jacob A. Frenkel

1. The Great Inflation: Did The Shadow Know Better?: William Poole, Robert Rasche, David Wheelock (bibliographic info) (download) version of December 19, 2008
       Comment: Christina D. Romer (bibliographic info) (download)

2. Opting Out of the Great Inflation: German Monetary Policy after the Break Down of Bretton Woods: Andreas Beyer, Vitor Gaspar, Christina Gerberding, Otmar Issing (bibliographic info) (download) version of December 15, 2008
       Comment: Benjamin Friedman (bibliographic info) (download) version of June 23, 2009

Panel discussion, Session 1: Michael D. Bordo, Athanasios Orphanides (bibliographic info) (download)

3. The Supply-Shock Explanation of the Great Stagflation Revisited: Alan Blinder, Jeremy Rudd (bibliographic info) (download) version of December 19, 2008
       Comment: Olivier Blanchard

4. Stepping on a Rake: The Role of Fiscal Policy in the Inflation of the 1970’s: Christopher Sims (bibliographic info) (download)
       Comment: Michael Woodford

Panel discussion, Session 2 : Michael D. Bordo, Athanasios Orphanides (bibliographic info) (download)

5. Misperceptions about the Frequency of Price Adjustments and Asymmetric Fed’s Preferences – An Assessment of their Impact on Inflation and Monetary Policy Under Burns and Miller: Alex Cukierman (bibliographic info) (download) version of December 19, 2008
       Comment: Gregory Hess

6. Great Inflation and Central Bank Independence in Japan: Takatoshi Ito (bibliographic info) (download) version of May 8, 2009
       Comment: Frederic Mishkin

Panel discussion, Session 3: Michael D. Bordo, Athanasios Orphanides (bibliographic info) (download)

7. The Great Inflation Drift: Marvin Goodfriend, Robert King (bibliographic info) (download) version of December 19, 2008
       Comment: Lars Svensson

8. Falling Behind the Curve: A Positive Analysis of Stop-Start Monetary Policies and the Great Inflation: Andrew Levin, John B. Taylor (bibliographic info) (download) version of February 12, 2009
       Comment: Bennett McCallum (bibliographic info) (download)

Panel discussion, Session 4: Michael D. Bordo, Athanasios Orphanides (bibliographic info) (download)

9. The Great Inflation in the United States and the United Kingdom: Reconciling Policy Decisions and Data Outcomes: Riccardo DiCecio, Edward Nelson (bibliographic info) (download) version of April 9, 2009
       Comment: Matthew D. Shapiro (bibliographic info) (download)

10. Bretton Woods and the Great Inflation: Michael Bordo, Barry Eichengreen (bibliographic info) (download) version of October 19, 2009
       Comment: Allan H. Meltzer (bibliographic info) (download)

Panel discussion, Session 5: Michael D. Bordo, Athanasios Orphanides (bibliographic info) (download)

11. Monetary Policy Mistakes and the Evolution of Inflation Expectations: Athanasios Orphanides, John C. Williams (bibliographic info) (download)
       Comment: Seppo Honkapohja (bibliographic info) (download)

Panel discussion, Session 6: Michael D. Bordo, Athanasios Orphanides (bibliographic info) (download)

Panel Session II, Lessons from History: Michael D. Bordo, Athanasios Orphanides (bibliographic info) (download)

Panel Session II, remarks: Harold James

Panel Session II, remarks: Anna J. Schwartz (bibliographic info) (download)

Panel Session II, remarks: Donald Kohn

 
Publications
Activities
Meetings
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org