#  Publications on Monetary Policy 

 



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"[Trump's Taylor Rule](/resource/trumps-taylor-rule "Trump's Taylor Rule")," Statistical analysis, with Sohaib Nasim. HKS. July 2025.

“[Should the Fed Be Constrained?](/file_url/673)” *Cato Journal*, 39, no.2, Spring/summer, 2019. [Proofs](/file_url/711). [Abstract](/file_url/721). [HKS RWP 19-003](https://www.hks.harvard.edu/publications/should-fed-be-constrained), Dec. 2018.

Frankel J, and Saiki A. "Does it Matter if Statistical Agencies Frame the CPI Report on a 1-Month or 12-Month Basis?" NBER WP 23754, [Aug. 2017](/file_url/435). [2017](/file_url/433); [Publisher's Version](https://research.hks.harvard.edu/publications/workingpapers/citation.aspx?PubId=11046&type=FN&PersonId=15) [Abstract](/publications/does-it-matter-if-statistical-agencies-frame-cpi-report-1-month-or-12-month) [Framing Stat Releases2016.pdf](/file_url/197) [HKS RWP16-011](/file_url/328). [On-line appendix documenting Table 1](/file_url/432).

“[Nominal GDP Targeting for Developing Countries](/file_url/288),” \[[word](/file_url/290)\] with Pranjul Bhandari, 2017, *Research in Economics* ([Elsevier](https://doi.org/10.1016/j.rie.2017.06.001)), vol.71, issue 3, September, pp. 491-506. [Uncorrected page proofs](/file_url/334). [NBER WP 20898](http://www.nber.org/papers/w20898).   
  
"[Effects of Speculation and Interest Rates in a “Carry Trade” Model of Commodity Prices](http://hks.harvard.edu/fs/jfrankel/CommodityPrices2013IMF.doc)," [*Journal of International Money and Finance*](http://www.sciencedirect.com/science/article/pii/S0261560613001083)*,* vol.42, April 2014, pp. 88-112. [HKS RWP13-022](https://research.hks.harvard.edu/publications/workingpapers/citation.aspx?PubId=9031&type=WPN). HKS [Summary](http://www.hks.harvard.edu/news-events/news/articles/commodity-prices). NBER [WP 19463](http://www.nber.org/papers/w19463). [Stata (data, do & log) files](http://hks.harvard.edu/fs/jfrankel/CommodityPrices2013Data&ResultsStataAppendixNoCE.zip) thanks to Marco Martinez, June 2013 (excl. proprietary *Consensus Economics* data). [Video of session on forecasting commodity prices](http://www.imf.org/external/mmedia/view.aspx?vid=2260845155001), [paper](http://hks.harvard.edu/fs/jfrankel/CommodityPrices2013IMF.doc) [presented](http://hks.harvard.edu/fs/jfrankel/CommodityCarry-IMF-March2013.pptx) at *Understanding International Commodity Price Fluctuations* ([IMF Research Dept.](http://www.imf.org/external/np/seminars/eng/2012/commodity/), 2013)

"[Nominal GDP Targeting for Middle-Income Countries](/file_url/625)," *Central Bank Review*, vol.14, no.3, September 2014 (Central Bank of the Republic of Turkey), pp.1-14. HKS [RWP](http://hks.harvard.edu/fs/jfrankel/ch.hks.harvard.edu/publications/workingpapers/Faculty_Name.aspx?PersonId=15) [14-033](https://research.hks.harvard.edu/publications/getFile.aspx?Id=1078).  
Summaries: "[Emerging Market Target Practice](http://www.project-syndicate.org/commentary/jeffrey-frankel-shows-why-emerging-and-developing-countries--central-banks-should-target-nominal-gdp-growth)," [*Project Syndicate*](http://www.project-syndicate.org/contributor/jeffrey-frankel); *"Developing Countries Should Target Nominal GDP,"*[ *The Guardian,*](http://www.theguardian.com/business/2014/jun/24/emerging-developing-markets-work-targeting-ngdp) June 24, 2014.   
Extended summary: "[Nominal GDP Targeting for Developing Countries](http://www.voxeu.org/article/nominal-gdp-targeting-developing-nations)," [*VoxEU,*](http://www.voxeu.org/person/jeffrey-frankel) Aug.21, 2014.

"[Monetary Policy in Emerging Market Countries](/file_url/627)” ([pdf](/file_url/628)), 2011, [*Handbook of Monetary Economics*,](https://www.elsevier.com/books/handbook-of-monetary-economics-3a/friedman/978-0-444-53238-1) edited by Benjamin Friedman & Michael Woodford. [NBER WP 16125](https://www.nber.org/papers/w16125)..  
  
“[A Comparison of Product Price Targeting and Other Monetary Anchor Options, for Commodity-Exporters in Latin America](/file_url/726)," [*Economia*](http://www.cid.harvard.edu/Economia/)*,* vol.11 ([Brookings Institution](http://www.brookings.edu/press/journals.aspx)), 2011. NBER [WP 16362](/file_url/727).

### More Topics 

[Monetary Influences on Commodity Prices](https://prod-frankel.drupalsites.harvard.edu/monetary-influences-commodity-prices)

[Nominal GDP Targeting](https://prod-frankel.drupalsites.harvard.edu/nominal-gdp-targeting)

[Other Monetary Policy ](https://prod-frankel.drupalsites.harvard.edu/other-monetary-policy)



 



 

 See also:- [ Monetary Policy ](/publication-topics-new/monetary-policy)