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A Cost-Benefit Analysis of Going from Low Inflation to Price Stability in Spain

In: The Costs and Benefits of Price Stability

  • Juan Dolado

One of the most significant economic developments of recent years in industrialized countries has been the increasing orientation of macroeconomic policies - and of monetary policies in particular - to achieving lower inflation rates. This has led to a move from low inflation to price stability in a number of countries and, in particular, in Spain. The purpose of this paper is to provide some empirical evidence on the net economic gains that have been obtained in the case of Spain from achieving inflation rates which are low enough to be considered consistent with a situation of price stability.

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This chapter was published in:
  • Martin Feldstein, 1999. "The Costs and Benefits of Price Stability," NBER Books, National Bureau of Economic Research, Inc, number feld99-1, July.
  • This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 7772.
    Handle: RePEc:nbr:nberch:7772
    Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
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