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Inflation: measurement and policy issues

Author

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  • Richard G. Davis

Abstract

The author surveys some problems in measuring inflation and examines the likely costs of anticipated and unanticipated inflation as well as the short-run costs of reducing inflation. He looks at the possibility that an inflationary bias may be implicit in the political economy aspects of the inflation problem, assesses the potential costs and benefits of zero inflation as a policy objective, and considers the possible implications of the inflation problem for monetary policy rules and for the independence of central banks.

Suggested Citation

  • Richard G. Davis, 1991. "Inflation: measurement and policy issues," Quarterly Review, Federal Reserve Bank of New York, vol. 16(Sum), pages 13-24.
    • Handle: RePEc:fip:fednqr:y:1991:i:sum:p:13-24:n:v.16no.2
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    Citations

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    Cited by:

    1. Wynne, Mark A & Sigalla, Fiona D, 1996. "A Survey of Measurement Biases in Price Indexes," Journal of Economic Surveys, Wiley Blackwell, vol. 10(1), pages 55-89, March.
    2. Zsolt Becsi, 1994. "Indicators of the general price level and inflation," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q IV, pages 27-39.

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