THE ELUSIVE COSTS OF INFLATION: PRICE DISPERSION DURING THE U.S. GREAT INFLATION
THE ELUSIVE COSTS OF INFLATION: PRICE DISPERSION DURING THE U.S. GREAT INFLATION
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Author / Creator
Publisher
Oxford University Press
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Language
English
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Oxford University Press
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Contents
A key policy question is: how high an inflation rate should central banks target? This depends crucially on the costs of inflation. An important concern is that high inflation will lead to inefficient price dispersion. Workhorse New Keynesian models imply that this cost of inflation is very large. An increase in steady-state inflation from 0% to 10...
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Full title
THE ELUSIVE COSTS OF INFLATION: PRICE DISPERSION DURING THE U.S. GREAT INFLATION
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TN_cdi_crossref_primary_10_1093_qje_qjy017
Permalink
https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_crossref_primary_10_1093_qje_qjy017
Other Identifiers
ISSN
0033-5533
E-ISSN
1531-4650
DOI
10.1093/qje/qjy017
