04375nam 2200673Ia 450 991078483720332120200520144314.01-281-22395-697866112239530-226-72483-210.7208/9780226724836(CKB)1000000000406506(EBL)408431(OCoLC)212810009(SSID)ssj0000234403(PQKBManifestationID)11202832(PQKBTitleCode)TC0000234403(PQKBWorkID)10241376(PQKB)10962221(MiAaPQ)EBC408431(DE-B1597)535475(OCoLC)1135592728(DE-B1597)9780226724836(Au-PeEL)EBL408431(CaPaEBR)ebr10216938(CaONFJC)MIL122395(EXLCZ)99100000000040650619960917d1997 uy 0engurcn|||||||||txtccrReducing inflation[electronic resource] motivation and strategy /edited by Christina D. Romer and David H. RomerChicago University of Chicago Press19971 online resource (434 p.)Studies in business cycles ;v. 30"This volume grew out of a National Bureau of Economic Research conference on monetary policy and low inflation held in Islamorada, Florida, in January 1996"--P. ix.0-226-72484-0 Includes bibliographical references and indexes.Front matter --National Bureau of Economic Research --Relation of the Directors to the Work and Publications of the National Bureau of Economic Research --Contents --Acknowledgments --Introduction --1. Why Do People Dislike Inflation? --2. Does Inflation "Grease the Wheels of the Labor Market"? --3. The Costs and Benefits of Going from Low Inflation to Price Stability --4. Disinflation and the NAIRU --5. How Precise Are Estimates of the Natural Rate of Unemployment? --6. America's Peacetime Inflation: The 1970's --7. Do "Shortages" Cause Inflation? --8. Institutions for Monetary Stability --9. Why Does Inflation Differ across Countries? --10. How the Bundesbank Conducts Monetary Policy --Contributors --Author Index --Subject IndexWhile there is ample evidence that high inflation is harmful, little is known about how best to reduce inflation or how far it should be reduced. In this volume, sixteen distinguished economists analyze the appropriateness of low inflation as a goal for monetary policy and discuss possible strategies for reducing inflation. Section I discusses the consequences of inflation. These papers analyze inflation's impact on the tax system, labor market flexibility, equilibrium unemployment, and the public's sense of well-being. Section II considers the obstacles facing central bankers in achieving low inflation. These papers study the precision of estimates of equilibrium unemployment, the sources of the high inflation of the 1970's, and the use of non-traditional indicators in policy formation. The papers in section III consider how institutions can be designed to promote successful monetary policy, and the importance of institutions to the performance of policy in the United States, Germany, and other countries. This timely volume should be read by anyone who studies or conducts monetary policy.Studies in business cycles ;no. 30.Inflation (Finance)CongressesMonetary policyCongresseseconomics, finance, money, financial, economy, economist, reduction, analysis, analyzed, monetary, policy, consequence, tax, taxes, system, essay collection, academic, scholarly, research, college, university, higher ed, education, textbook, professor, researcher, banker, banking, unemployment, united states, germany, western, market, labor, international.Inflation (Finance)Monetary policy332.4/1Romer Christina1512973Romer David116990National Bureau of Economic Research.MiAaPQMiAaPQMiAaPQBOOK9910784837203321Reducing inflation3747198UNINA