There is also now a large academic literature supporting inflation targeting and examining and advising on various questions about the appropriate design and operation of the framework. That has validated many of the decisions taken by policymakers in setting up their inflation-targeting frameworks, but has also questioned some features of the framework.
In this respect it is worth recalling: the fundamental contributions of Cantillon and Hume; the Physiocrats and Quesnay with his Tableau économique, the precursor of Leontief’s input-output analysis; Antonio Genovesi, who held the first chair of political economy in Europe at the University of Naples, with his Lezioni di economia civile, and Ferdinando Galiani, whose treatise Della moneta remains exemplary for its profundity and enduring relevance.