Uncertain inflation and price-level rules

An analysis of the sources and costs of unpredictable inflation, finding that the uncertainty stems from a lack of appropriate constraints on the monetary policy process, and that the costs could be sharply reduced by adopting a policy that targets a long-run path for the price level.

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Year of publication:	1992
Authors:	Hallman, Jeffrey J.
Published in:	Economic Commentary. - Federal Reserve Bank of Cleveland. - 1992, Jan, 2
Publisher:	Federal Reserve Bank of Cleveland
Subject:	Inflation (Finance) \| Prices

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005512828