NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Forecast Targeting as a Monetary Policy Strategy: Policy Rules in Practice

Michael Woodford

NBER Working Paper No. 13716
Issued in December 2007

---- Acknowledgements -----

Revision of a paper presented at the conference "John Taylor's Contributions to Monetary Theory and Policy," Federal Reserve Bank of Dallas, October 12-13, 2007. I would like to thank Olivier Blanchard, Ray Fair, Marc Giannoni, Rick Mishkin, Ed Nelson, Bruce Preston, Lars Svensson, and John Taylor for helpful discussions; Mehmet Passaogullari for research assistance; the NSF for research support through a grant to the NBER; and the Arthur Okun and Kumho Visiting Professorship, Yale University, for providing the time to write this paper. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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