What is the right inflation rate?

David Altig

Economic Commentary, 2003, issue Sep

Abstract: The primary objective of most of the world's central banks these days is to keep inflation low, and the range of inflation rates banks find acceptable appears to be around 2.5 to 3.5 percent. While banks may have hit on this range through trial and error, economic theory and empirical observations suggest a good reason for it.

Keywords: Inflation (Finance); Banks and banking, Central (search for similar items in EconPapers)
Date: 2003
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