inflation | Inflation | Targeting | Journal of Drug Targeting | Cold inflation pressure | Behavioral targeting | behavioral targeting |
Specific policies include inflation targeting at a 2% annual rate, correction of the excessive yen appreciation, setting negative interest rates, radical quantitative easing, expansion of public investment, buying operations of construction bonds by Bank of Japan (BOJ), and revision of the Bank of Japan Act.
His most cited and influential publications include the books Restoring Japan's Economic Growth (1998) and Inflation Targeting: Lessons from the International Experience (1999, co-authored with Ben Bernanke, Chairman of the Board of Governors of the Federal Reserve System in the US, et al.), and a series of articles on the political economy of central bank independence, as well as more recent works on the global roles of the dollar and the euro.
MacDonald has appeared on television with former presidential candidates, Congressmen and Senators, as well as notables such as Pat Buchanan, Ben Stein, Robert Reich, Art Laffer, Stephen Moore, Steve Forbes, energy expert Daniel Yergin, president of Cambridge Energy Research Associates, and Adam Posen, co-author with Federal Reserve chairman Ben Bernanke and Frederic Mishkin of a book about inflation-targeting.