Macroeconomic Policy in Conditions of Low, Zero or Negative Inflation (1998)

James Perkins

Chapter 12 in The Reform of Macroeconomic Policy, 2000, pp 178-191 from Palgrave Macmillan

Abstract: Abstract Most economic analysis of macroeconomic policy during and since the Second World War has been carried out in a context of both actual and expected inflation. Indeed, for most of that period it could be said that restraining inflation was the dominant objective of macroeconomic policy. It is true that more recently the restoration of low unemployment has become in many countries (especially in continental Europe and Japan) at least as important an objective as holding down inflation. Moreover, there may be also a third objective. This may be defined as ‘maintaining an adequate but not excessive level of saving or investment at a given level of activity’. This has come to be important in one form or another (often expressed — rather inadequately — in terms of keeping down the current account deficit in the balance of payments, or of holding down the budget deficit, on some definition or other).

Keywords: Interest Rate; Monetary Policy; Central Bank; Price Index; Price Level (search for similar items in EconPapers)
Date: 2000
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28873-7_12

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230288737

DOI: 10.1057/9780230288737_12

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().