NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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The Optimal Inflation Target and the Natural Rate of Interest

Philippe Andrade, Jordi Galí, Hervé Le Bihan, Julien Matheron

NBER Working Paper No. 24328
Issued in February 2018

---- Acknowledgments ----

We thank Raf Wouters for comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research, Banque de France or the Eurosystem.

---- Disclosure of Financial Relationships for Jordi Galí ----

Jordi Galí is a regular consultant to the European Central Bank, the Sveriges Riksbank. In addition, he is a member of the Board of Directors of Sabadell Asset-Management, an investment fund. To his knowledge none of those institutions is likely to have a financial, ideological, or political stake related to the article. No party had the right to review the paper prior to its circulation.

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