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The case for zero inflation

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Author Info

  • William T. Gavin
  • Alan C. Stockman

Abstract

An argument that a monetary policy aimed at eliminating long-run inflation would benefit society by removing price distortion, increasing economic growth, adding liquidity to the economy, and reducing uncertainty associated with price-level drift.

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Bibliographic Info

Article provided by Federal Reserve Bank of Cleveland in its journal Economic Commentary.

Volume (Year): (1988)
Issue (Month): Sep ()
Pages:

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Handle: RePEc:fip:fedcec:y:1988:i:sep15

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Related research

Keywords: Inflation (Finance);

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Cited by:
  1. Le, Vo Phuong Mai & Minford, Patrick, 2007. "Optimising indexation arrangements under Calvo contracts and their implications for monetary policy," Cardiff Economics Working Papers E2007/7, Cardiff University, Cardiff Business School, Economics Section.
  2. Kevin Dowd, 1994. "The Costs of Inflation and Disinflation," Cato Journal, Cato Journal, Cato Institute, vol. 14(2), pages 305-331, Fall.
  3. Coulombe, Serge, 1998. "A Non-Paradoxical Interpretation of the Gibson Paradox," Working Papers 98-22, Bank of Canada.
  4. William T. Gavin & Alan C. Stockman, 1991. "Why a rule for stable prices may dominate a rule for zero inflation," Economic Review, Federal Reserve Bank of Cleveland, issue Q I, pages 2-8.
  5. Samantha Johnson, 1993. "The costs of inflation revisited," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 56, March.

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