Costs and Benefits of Price Stability: An Assessment of Howitt's Rule
收藏ICPSR1998-01-01 更新2026-04-16 收录
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资源简介：
Assuming inflation affects both the level and growth rate of output, the author states Howitt's Rule and explains how it argues for a continued policy of moderate inflation. Next, alternative estimates of the costs of achieving price stability are analyzed, and then those costs are compared with estimates of the gain from achieving price stability when inflation reduces the level or growth rate of output. Finally, the cross-section and time-series evidence on the effects of inflation on output growth is reviewed.
提供机构：
Federal Reserve Bank of St. Louis
创建时间：
1998-01-01
