| Description |
1 online resource (ix, 421 pages) : illustrations |
| Series |
Studies in business cycles ; v. 30 |
|
Studies in business cycles ; no. 30.
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| Contents |
Why do people dislike inflation? / Robert J. Shiller -- Does inflation "grease the wheels of the labor market"? / David Card and Dean Hyslop -- Costs and benefits of going from low inflation to price stability / Martin Feldstein -- Disinflation and the NAIRU / Laurence Ball -- How precise are estimates of the natural rate of unemployment? / Douglas Staiger, James H. Stock, and Mark W. Watson -- America's peacetime inflation : the 1970s / J. Bradford De Long -- Do "shortages" cause inflation? / Owen Lamont -- Institutions for monetary stability / Christina D. Romer and David H. Romer -- Why does inflation differ across countries? / Marta Campillo and Jeffrey A. Miron -- How the Bundesbank conducts monetary policy / Richard Clarida and Mark Gertler |
| Summary |
While there is ample evidence that high inflation is harmful, little is known about how best to reduce inflation or how far it should be reduced. In this volume, sixteen distinguished economists analyze the appropriateness of low inflation as a goal for monetary policy and discuss possible strategies for reducing inflation. Section I discusses the consequences of inflation. These papers analyze inflation's impact on the tax system, labor market flexibility, equilibrium unemployment, and the public's sense of well-being. Section II considers the obstacles facing central bankers in achieving low inflation. These papers study the precision of estimates of equilibrium unemployment, the sources of the high inflation of the 1970s, and the use of non-traditional indicators in policy formation. The papers in section III consider how institutions can be designed to promote successful monetary policy, and the importance of institutions to the performance of policy in the United States, Germany, and other countries. This timely volume should be read by anyone who studies or conducts monetary policy |
| Bibliography |
Includes bibliographical references and indexes |
| Notes |
Print version record |
| SUBJECT |
Colección Historia (Editorial Los Amigos del Libro). Política monetaria. http://id.loc.gov/authorities/names/n2005044423
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| Subject |
Inflation (Finance)
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Monetary policy.
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Inflation, Economic
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BUSINESS & ECONOMICS -- Inflation.
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Inflation (Finance)
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Monetary policy
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Inflatie.
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Monetaire politiek.
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Inflation.
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Politique monétaire.
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| Genre/Form |
proceedings (reports)
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Conference papers and proceedings
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Conference papers and proceedings.
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Actes de congrès.
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| Form |
Electronic book
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| Author |
Romer, Christina.
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|
Romer, David.
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| LC no. |
96044811 |
| ISBN |
9780226724836 |
|
0226724832 |
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