Reducing Inflation
Motivation and Strategy
Published on 23. June 1997
Book
Hardback
432 pages
978-0-226-72484-3 (ISBN)
Description
While there is ample evidence that high inflation is harmful, little is known about how best to reduce it. In this volume, the contributors discuss the consequences of inflation, consider the obstacles facing central bankers in achieving low inflation, and examine how institutions can promote it. The first section of the book discusses the consequences of inflation, analyzing the impact of inflation on the tax system, labour market flexibility, equilibrium unemployment, and the public's sense of well-being. In the second part, the obstacles facing central bankers in achieving low inflation is considered. The text studies 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 third section of the book considers how institutions can be designed to promote successful monetary policy, and the importance of institutions to the performance of policy in the USA, Germany and other countries.
More details
Series
Language
English
Place of publication
Chicago
United States
Publishing group
The University of Chicago Press
Target group
College/higher education
Professional and scholarly
Dimensions
Height: 24 mm
Width: 16 mm
Thickness: 3 mm
Weight
737 gr
ISBN-13
978-0-226-72484-3 (9780226724843)
Copyright in bibliographic data is held by Nielsen Book Services Limited or its licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
E-Book
12/2007
1st Edition
University of Chicago Press
€124.59
Available for download
Content
Acknowledgments Introduction Christina D. Romer, David H. Romer. 1: Why Do People Dislike Inflation? Robert J. Shiller Comment: N. Gregory Mankiw 2: Does Inflation "Grease the Wheels of the Labor Market"? David Card, Dean Hyslop. Comment: John Shea 3: The Costs and Benefits of Going from Low Inflation to Price Stability Martin Feldstein Comment: Andrew B. Abel 4: Disinflation and the NAIRU Laurence Ball Comment: Olivier J. Blanchard 5: How Precise Are Estimates of the Natural Rate of Unemployment? Douglas Staiger, James H. Stock, Mark W. Watson. Comment: Alan B. Krueger 6: America's Peacetime Inflation: The 1970s J. Bradford De Long Comment: John B. Taylor 7: Do "Shortages" Cause Inflation? Owen Lamont Comment: Matthew D. Shapiro 8: Institutions for Monetary Stability Christina D. Romer, David H. Romer. Comment: Benjamin M. Friedman 9: Why Does Inflation Differ across Countries? Marta Campillo, Jeffrey A. Miron. Comment: Maurice Obstfeld 10: How the Bundesbank Conducts Monetary Policy Richard Clarida, Mark Gertler. Comment: Rudiger Dornbusch Contributors Author Index Subject Index