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The case for zero inflation

Author

Listed:
  • William T. Gavin
  • Alan C. Stockman

Abstract

An argument that a monetary policy aimed at eliminating long-run inflation would benefit society by removing price distortion, increasing economic growth, adding liquidity to the economy, and reducing uncertainty associated with price-level drift.

Suggested Citation

  • William T. Gavin & Alan C. Stockman, 1988. "The case for zero inflation," Economic Commentary, Federal Reserve Bank of Cleveland, issue Sep.
    • Handle: RePEc:fip:fedcec:y:1988:i:sep15
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    Citations

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    Cited by:

    1. Samantha Johnson, 1993. "The costs of inflation revisited," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 56, March.
    2. Minford, Patrick & Le, Vo Phuong Mai, 2007. "Optimising Indexation Arrangements under Calvo Contracts and their Implications for Monetary Policy," CEPR Discussion Papers 6325, C.E.P.R. Discussion Papers.
    3. Serge Coulombe, 1998. "A Non-Paradoxical Interpretation of the Gibson Paradox," Staff Working Papers 98-22, Bank of Canada.
    4. T.P. Koirala Ph.D, 2010. "Welfare Costs of Inflation in Nepal: An Empirical Analysis," NRB Economic Review, Nepal Rastra Bank, Research Department, vol. 22, pages 57-68, April.
    5. William T. Gavin & Alan C. Stockman, 1991. "Why a rule for stable prices may dominate a rule for zero inflation," Economic Review, Federal Reserve Bank of Cleveland, vol. 27(Q I), pages 2-8.
    6. Kevin Dowd, 1994. "The Costs of Inflation and Disinflation," Cato Journal, Cato Journal, Cato Institute, vol. 14(2), pages 305-331, Fall.

    More about this item

    Keywords

    Inflation (Finance);

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