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The Cost Of Disinflation: The Sacrifice Ratio

Author

Listed:
  • Nadeem Ul Haque

    (Pakistan Institute of Development Economics)

  • Abdul Jalil

    (Pakistan Institute of Development Economics)

Abstract

Price stability is an imperative in economics. Independent central banks have therefore been encouraged by the IMF in all countries with a clear mandate to achieve a low inflation target. It is well accepted that long run sustained growth requires a stable low inflation environment (Barro, 1996 and Feldstein, 1996). Curbing inflationary pressures is not costless. The tradeoff between growth and inflation is well known ever since the famous Phillips curve.

Suggested Citation

  • Nadeem Ul Haque & Abdul Jalil, 2020. "The Cost Of Disinflation: The Sacrifice Ratio," PIDE Knowledge Brief 2020:2, Pakistan Institute of Development Economics.
    • Handle: RePEc:pid:kbrief:2020:2
    as

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    File URL: https://file.pide.org.pk/pdfpideresearch/kb-002-the-cost-of-disinflation-the-sacrifice-ratio.pdf
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    Keywords

    Disinflation; Scrifice Ratio;

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