Should Central Banks Raise their Inflation Targets? Some Relevant Issues
NBER Working Paper No. 17005
---- Acknowledgments ----
This paper was presented at the Federal Reserve Bank of Boston Conference "Revisiting Monetary Policy in a Low Inflation Environment," held October 14-15, 2010, in Boston. For helpful discussion and comments, I am indebted to Marvin Goodfriend, Joseph Gagnon, Edward Nelson, and Julio Rotemberg. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.