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In defense of zero inflation

Author

Listed:
  • William T. Gavin

Abstract

An argument supporting zero inflation as the sole objective of monetary policy, with particular emphasis on the Bank of Canada's commitment to an explicit, low inflation target.

Suggested Citation

  • William T. Gavin, 1990. "In defense of zero inflation," Working Papers (Old Series) 9005, Federal Reserve Bank of Cleveland.
    • Handle: RePEc:fip:fedcwp:9005
    as

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    References listed on IDEAS

    as
    1. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 407-443.
    2. Stockman, Alan C., 1988. "Sectoral and national aggregate disturbances to industrial output in seven European countries," Journal of Monetary Economics, Elsevier, vol. 21(2-3), pages 387-409.
    3. Lembke B., 1918. "√ a. p," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 111(1), pages 709-712, February.
    4. Kormendi, Roger C. & Meguire, Philip G., 1985. "Macroeconomic determinants of growth: Cross-country evidence," Journal of Monetary Economics, Elsevier, vol. 16(2), pages 141-163, September.
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    Cited by:

    1. 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.

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    Keywords

    Inflation (Finance); Monetary policy;

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