Belke, Ansgar; Böing, Tobias - Rheinisch-Westfälisches Institut für … - 2014
ratio means a large loss of gross domestic product (GDP) or employment for a given reduction in inflation. In order to … estimate the cost of adjustments in inflation rates by the sacrifice ratio, we apply, firstly, a structural vector … reduction in inflation of one percentage point. In some cases, these estimates deliver negative sacrifice ratios. …