Zero inflation: transition costs and shoe-leather benefits

Charles Carlstrom and William Gavin ()

No 9113, Working Papers (Old Series) from Federal Reserve Bank of Cleveland

Abstract: A comparison showing that the transition costs of indexing inflation (a major obstacle to monetary policy reform) are approximately equal to the minor shoe-leather benefits of having price stability.

Keywords: Inflation; (Finance) (search for similar items in EconPapers)
Date: 1991
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Related works:
Journal Article: ZERO INFLATION: TRANSITION COSTS AND SHOE LEATHER BENEFITS (1993)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedcwp:9113

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