Credible Disinflation with Staggered Price Setting

Laurence Ball

No 3555, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper determines the real effects of credible disinflation when price setting is staggered. The results are surprising: a fairly quick disinflation causes a boom. This finding suggests that nominal price rigidity alone does not explain why disinflation is costly in actual economies.

Date: 1990-12
Note: EFG
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Citations: View citations in EconPapers (22)

Published as American Economic Review, March 1994

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Journal Article: Credible Disinflation with Staggered Price-Setting (1994)
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