The Genesis of Inflation and the Costs of Disinflation

Laurence Ball

No 3621, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This essay asks how high inflation arises and why it is costly to eliminate. Specifically, the paper discusses the roles of price rigidity and credibility problems in explaining the costs of disinflation; the puzzle of persistent inflation triggered by onetime macroeconomic shocks; and the case for returning to adaptive expectations in theories of inflation.

Date: 1991-02
Note: EFG
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Citations: View citations in EconPapers (48)

Published as Journal of Money, Credit, and Banking, August 1991, 23(3), Part 2, pp. 439-452
Published as Laurence Ball, 1991. "The genesis of inflation and the costs of disinflation," Proceedings, Federal Reserve Bank of Cleveland, pages 439-461.

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Journal Article: The genesis of inflation and the costs of disinflation (1991)
Journal Article: The Genesis of Inflation and the Costs of Disinflation (1991)
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