ALBERT — All Library Books, journals and Electronic Records Telegrafenberg

Hits per page

hit 1 - 1 | 1 hit

Select All Export

Electronic Resource

Can Inflation Be Too Low? (2001)

Andersen, Torben M.

Oxford UK and Boston, USA : Blackwell Publishers Ltd.

Kyklos 54 (2001), S. 0

add to mindlist on the mindlist

Details

ISSN: 1467-6435

Source: Blackwell Publishing Journal Backfiles 1879-2005

Topics: Sociology , Economics

Notes: Price stability has become the predominant goal for monetary policy. Should the aim be zero inflation or could inflation be too low making it better to strive for a stable (low) positive rate of inflation? This paper analyses why inflation may interact with downward nominal rigidities so as to imply inefficiencies in resource allocation at low rates of inflation. The higher the rate of inflation, the lower the likelihood that downward nominal rigidities are binding (the Tobin argument) and this may cause a non-linear Phillips curve. Inflation can be too low in the sense that the employment level is reduced and its volatility increased.

Type of Medium: Electronic Resource

URL: http://dx.doi.org/10.1111/1467-6435.00171

	Location	Call Number	Expected	Availability

Others were also interested in ...

Paper (German National Licenses)

Fulltext

hit 1 - 1 | 1 hit