Disinflation Costs, Accelerating Inflation Gains, and Central Bank Independence

This paper considers the impact of central bank independence on both the costs of disinflation and the gains of accelerating inflation. For this purpose, sacrifice ratios for disinflation episodes and benefice ratios for accelerating inflation episodes are constructed by using a new method. The rati...

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Veröffentlicht in:	Review of world economics 1997-01, Vol.133 (1), p.1-21
1. Verfasser:	Jordan, Thomas J.
Format:	Artikel
Sprache:	eng
Schlagworte:	Central bank independence Central banks Disinflation Economic indices Economic recessions Economic theory Global economy Inflation Inflation rates Monetary policy Nominal rigidities Nominal wages Potential output Ratios
Online-Zugang:	Volltext
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