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The costs and benefits of disinflation: a critique of the sacrifice ration

Author

Listed:
  • David Mayes
  • Bryan Chapple

    (Reserve Bank of New Zealand)

Abstract

This article discusses the method of measuring the costs of disinflation - sacrifice ratios and points out some of the limitations of that approach

Suggested Citation

  • David Mayes & Bryan Chapple, 1995. "The costs and benefits of disinflation: a critique of the sacrifice ration," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 58, March.
    • Handle: RePEc:nzb:nzbbul:march1995:2
    as

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    File URL: http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/1995/1995mar58-1MayesChapple.pdf
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Mayes, David G. & Vilmunen, Jouko, 1999. "Unemployment in a small open economy: Finland and New Zealand," Bank of Finland Research Discussion Papers 10/1999, Bank of Finland.
    2. Economics Department, 1995. "Recent Reserve Bank research," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 58, September.
    3. repec:zbw:bofrdp:2004_009 is not listed on IDEAS
    4. Juha Kilponen & David Mayes & Jouko Vilmunen, 1999. "Labour Market Flexibility in Northern Europe," One Europe or Several? Working Papers 2, One-Europe Programme.
    5. repec:zbw:bofrdp:1999_010 is not listed on IDEAS
    6. Brian O'Reilly, 1998. "The Benefits of Low Inflation: Taking Shock "A nickel ain't worth a dime any more" [Yogi Berra]," Technical Reports 83, Bank of Canada.
    7. Christopher J. Neely & Christopher J. Waller, 1997. "A Benefit‐Cost Analysis Of Disinflation," Contemporary Economic Policy, Western Economic Association International, vol. 15(1), pages 50-64, January.
    8. Helder Ferreira de Mendonça, 2009. "Output‐inflation and unemployment‐inflation trade‐offs under inflation targeting," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 36(1), pages 66-82, January.
    9. David Mayes & Matti Viren, 2002. "Asymmetry and the Problem of Aggregation in the Euro Area," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 29(1), pages 47-73, March.
    10. Mayes, David & Virén, Matti, 2004. "Asymmetries in the Euro area economy," Bank of Finland Research Discussion Papers 9/2004, Bank of Finland.
    11. David G. Mayes & Matti Virén, 2004. "Asymmetries in the Euro area economy," Macroeconomics 0404024, University Library of Munich, Germany.
    12. Leo Bonato, 1998. "The benefits of price stability: some estimates for New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 61, September.
    13. Hutchison, M M & Walsh, C E, 1998. "The Output-Inflation Tradeoff and Central Bank Reform: Evidence from New Zealand," Economic Journal, Royal Economic Society, vol. 108(448), pages 703-725, May.
    14. repec:zbw:bofrdp:2000_011 is not listed on IDEAS
    15. Pierre L. Siklos, 2003. "Assessing the Impact of Changes in Transparency and Accountability at the Bank of Canada," Canadian Public Policy, University of Toronto Press, vol. 29(3), pages 279-299, September.
    16. Francisco De A. Nadal‐De Simone, 2001. "Inflation Targeters In Practice: A Lucky Lot?," Contemporary Economic Policy, Western Economic Association International, vol. 19(3), pages 239-253, July.
    17. Mayes, David G. & Vilmunen, Jouko, 1999. "Unemployment in a small open economy : Finland and New Zealand," Research Discussion Papers 10/1999, Bank of Finland.
    18. Chan Guk Huh, 1996. "Some evidence on the efficacy of the UK inflation targeting regime: an out-of-sample forecast approach," International Finance Discussion Papers 565, Board of Governors of the Federal Reserve System (U.S.).
    19. David Mayes & Matti Viren, 2002. "Asymmetry and the Problem of Aggregation in the Euro Area," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 29(1), pages 47-73, March.
    20. David Mayes & Brendon Riches, 1996. "The effectiveness of monetary policy in New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 59, March.
    21. Mayes, David G. & Viren, Matti, 2005. "Monetary policy problems for currency unions: asymmetry and the problem of aggregation in the euro area," Economic Modelling, Elsevier, vol. 22(2), pages 219-251, March.

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