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The benefits of price stability: some estimates for New Zealand

  • Leo Bonato

    (Reserve Bank of New Zealand)

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

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

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Handle: RePEc:nzb:nzbbul:september1998:4
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  1. Robert J. Shiller, 1997. "Why Do People Dislike Inflation?," NBER Chapters, in: Reducing Inflation: Motivation and Strategy, pages 13-70 National Bureau of Economic Research, Inc.
  2. Javier Andres & Ignacio Hernando, 1997. "Does Inflation Harm Economic Growth? Evidence for the OECD," NBER Working Papers 6062, National Bureau of Economic Research, Inc.
  3. 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.
  4. 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.
  5. Tödter, Karl-Heinz & Ziebarth, Gerhard, 1997. "Price stability versus low inflation in Germany: An analysis of costs and benefits," Discussion Paper Series 1: Economic Studies 1997,03e, Deutsche Bundesbank, Research Centre.
  6. Martin S. Feldstein, 1999. "Capital Income Taxes and the Benefit of Price Stability," NBER Chapters, in: The Costs and Benefits of Price Stability, pages 9-46 National Bureau of Economic Research, Inc.
  7. Martin Feldstein, 1996. "The Costs and Benefits of Going from Low Inflation to Price Stability," NBER Working Papers 5469, National Bureau of Economic Research, Inc.
  8. 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.
  9. 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.
  10. Judson, Ruth & Orphanides, Athanasios, 1999. "Inflation, Volatility and Growth," International Finance, Wiley Blackwell, vol. 2(1), pages 117-38, April.
  11. Leo Bonato, 1998. "Price stability: some costs and benefits in New Zealand," Reserve Bank of New Zealand Discussion Paper Series G98/10, Reserve Bank of New Zealand.
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