Dealing with Time Inconsistency: Inflation Targeting versus Exchange Rate Targeting
We thank the editor, Kenneth West, and two anonymous referees for many insightful comments and suggestions. We also have benefited from discussions with Mario Crucini, Richard Dennis, Chris Edmond, Jinill Kim, Marianio Kulish, James Hansen, Sylvain Leduc, Zheng Liu, Ricardo Nunes, Frank Smets, Mark Spiegel, and seminar and conference participants at the Federal Reserve Banks of Dallas, Boston, and San Francisco, Vanderbilt University, the Central Bank Modeling Workshop at the Reserve Bank of...[Show more]
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