The Benefits of Low Inflation: Taking Shock "A nickel ain't worth a dime any more" [Yogi Berra]

Brian O'Reilly

Technical Reports from Bank of Canada

Abstract: This paper surveys the empirical literature on the benefits of low inflation emphasizing contributions since 1990. It follows the framework of a section in the Bank's 1990 Annual Report, "The Benefits of Price Stability." This framework looks at the costs of inflation, or the benefits of price stability, in the context of four themes: inflation creates uncertainty about the future; there are costs of having to cope with inflation; inflation affects equity and fairness; and 'living with inflation' is no answer.

Keywords: INFLATION; COSTS (search for similar items in EconPapers)
JEL-codes: E31 (search for similar items in EconPapers)
Pages: 74 pages
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:bca:bocatr:83

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