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FROM MONETARY TARGETING TO INFLATION TARGETING: LESSONS FROM THE INDUSTRIALIZED COUNTRIES by Frederic S. Mishkin Graduate School of Business, Columbia University and National Bureau of Economic Research Uris Hall 619 Columbia University New York, New York 10027 Phone: 212-854-3488, Fax: 212-316-9219 E-mail: fsm3@columbia.edu January 2000 Prepared for the Bank of Mexico Conference, "Stabilization and Monetary Policy: The International Experience," Mexico City, November 14-15, 2000. I thank Rodrigo Valdez and Klaus Schmidt-Hebbel for helpful comments. Any views expressed in this paper are those of the author only and not those of Columbia University or the National Bureau of Economic Research. From Monetary Targeting to Inflation Targeting: Lessons from the Industrialized Countries Frederic S. Mishkin JEL No. E5, F33, O54 Abstract The paper looks at the evolution of monetary policy in industrialized countries by evaluating two monetary policy strategies, monetary targeting and...

The Rise of“Localism”and Civic Identityin Post-handover Hong Kong: Questioningthe Chinese Nation-stateSebastian Veg*AbstractWhile it was traditionally accepted that Hongkongers shared a form of pan-Chinese cultural identification that did not contradict their local distinctive-ness, over the last decade Hong Kong has seen the rise of new types of localidentity discourses. Most recently,“localists”have been a vocal presence.Hong Kong has–quite unexpectedly–developed a strong claim for self-determination. But how new is“localism”with respect to the more trad-itional“Hong Kong identity”that appeared in the 1970s? The presentstudy takes a two-dimensional approach to study these discourses, examin-ing not only their framework of identification (local versus pan-Chinese) butalso their mode of identification (ethno-cultural versus civic). Using threecase studies, the June Fourth vigil, the 2012 anti-National Education protestand the 2014 Umbrella movement, it distinguishes between groups advo...