Should Central Banks Target CPI Futures?
分析了政府稳定CPI期货合约名义价值的提议，指出在多种条件下，套利者会打破盯住机制并导致央行破产，或使央行陷入与私人交易者的博弈问题，最终导致制度崩溃。
The author considers recent proposals that the government should attempt to stabilize the nominal value of a CPI futures contract. Under a variety of conditions, arbitrageurs will break the peg and bankrupt the central bank, the central bank ends up in a gaming problem with private traders, or the regime collapses into discretion. Copyright 1997 by Ohio State University Press.