Lessons from Moderate Inflations

Stanley Fischer

Chapter 3 in Price Stabilization in the 1990s, 1993, pp 30-44 from Palgrave Macmillan

Abstract: Abstract Few topics have sustained the interest of policymakers and economists as long and as intensively as inflation. There is no mystery about why: it is the ‘almost unbroken chronicle in every country which has a history, back to the earliest dawn of economic record, of a progressive deterioration in the real value of the successive legal tenders which have represented money’ (Keynes, 1923, p. 63).

Keywords: Exchange Rate; Inflation Rate; Real Exchange Rate; Real Wage; Real Interest Rate (search for similar items in EconPapers)
Date: 1993
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DOI: 10.1007/978-1-349-12893-8_3

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