An examination of the detrimental effects of inflation and a recommendation that policymakers should immediately resist a further acceleration of inflation, rather than wait for more signals of its future course.

An analysis concluding that inflation measures based on median price changes are a better indicator than measures based on mean price changes.

A response by the Federal Reserve Bank of Cleveland president to critics of his continuing advocacy of zero inflation as the overriding objective of monetary policy.

New models of monetary economies, developed in the last 15 years, suggest that traditional measures of the welfare cost of inflation may underestimate the true loss that inflation inflicts on society. According to these models, the cost of 10 percent inflation ranges from 1 to 5 percent of real...

Oil price shocks do not cause inflation, no matter how close the connection seems to be in our practical experience. But they can cause significant price increases throughout the economy. Tracing the way a sharp increase in the price of crude oil affects prices in various industrial sectors of...

A presentation of the outlook for the economy through 1990 by discussants at the Fourth District Economists' Roundtable meeting at the Federal Reserve Bank of Cleveland.