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The benefits of price stability: some estimates for New Zealand

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Author Info

  • Leo Bonato

    (Reserve Bank of New Zealand)

Abstract

This article outlines the economic costs of inflation, particularly in relation to the economic distortions caused by the interaction of inflation with the tax system.

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File URL: http://www.rbnz.govt.nz/research_and_publications/reserve_bank_bulletin/1998/1998sep61_3Bonato.pdf
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Bibliographic Info

Article provided by Reserve Bank of New Zealand in its journal Reserve Bank of New Zealand Bulletin.

Volume (Year): 61 (1998)
Issue (Month): (September)
Pages:

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Handle: RePEc:nzb:nzbbul:september1998:4

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Postal: P.O. Box 2498, Wellington
Phone: 64 4 471-3767
Fax: 64 4 471-2270
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Web page: http://www.rbnz.govt.nz
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References

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  1. Martin S. Feldstein, 1997. "The Costs and Benefits of Going from Low Inflation to Price Stability," NBER Chapters, in: Reducing Inflation: Motivation and Strategy, pages 123-166 National Bureau of Economic Research, Inc.
  2. Hasan Bakhshi & Andrew G. Haldane & Neal Hatch, 1998. "Some Costs and Benefits of Price Stability in the United Kingdom," NBER Working Papers 6660, National Bureau of Economic Research, Inc.
  3. Judson, Ruth & Orphanides, Athanasios, 1999. "Inflation, Volatility and Growth," International Finance, Wiley Blackwell, vol. 2(1), pages 117-38, April.
  4. Martin Feldstein, 1997. "Capital Income Taxes and the Benefit of Price Stability," NBER Working Papers 6200, National Bureau of Economic Research, Inc.
  5. David Mayes & Bryan Chapple, 1995. "The costs and benefits of disinflation: a critique of the sacrifice ration," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 58, March.
  6. Robert J. Shiller, 1996. "Why Do People Dislike Inflation?," Cowles Foundation Discussion Papers 1115, Cowles Foundation for Research in Economics, Yale University.
  7. Juan J. Dolado & José M. González-Páramo & José Viñals, 1997. "A Cost-Benefit Analysis of Going from Low Inflation to Price Stability in Spain," Banco de Espa�a Working Papers 9728, Banco de Espa�a.
  8. Leo Bonato, 1999. "Price stability: Some costs and benefits in New Zealand," New Zealand Economic Papers, Taylor & Francis Journals, vol. 33(1), pages 27-49.
  9. Javier Andres & Ignacio Hernando, 1997. "Does Inflation Harm Economic Growth? Evidence for the OECD," NBER Working Papers 6062, National Bureau of Economic Research, Inc.
  10. Karl-Heinz Todter & Gerhard Ziebarth, 1997. "Price Stability vs. Low Inflation in Germany: An Analysis of Costs and Benefits," NBER Working Papers 6170, National Bureau of Economic Research, Inc.
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Cited by:
  1. Christie Smith, 2004. "The long-run effects of monetary policy on output growth," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 67, September.

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