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With a few unfortunate exceptions the last three decades has seen reductions in inflation round the world to the point that many would argue that further improvements in price stability would offer only limited welfare gains. This experience is the result of many factors, some of which are...
Persistent link: https://www.econbiz.de/10013150985
With a few unfortunate exceptions the last three decades have seen reductions in inflation around the world to the point that many would argue that further improvements in price stability would offer only limited welfare gains. This experience is the result of many factors, some of which are...
Persistent link: https://www.econbiz.de/10013153596
Persistent link: https://www.econbiz.de/10003895483
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Persistent link: https://www.econbiz.de/10012202101
In an important sense the present survey reaches a conclusion similar to the one highlighted by Laidler and Parkin (1975) over forty years ago. Inflation, if fully anticipated, produces modest social costs. We are no closer to knowing what is ‘optimal' inflation except that low and stable...
Persistent link: https://www.econbiz.de/10012929808
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This paper investigates the link between the perceived inflation risks in macroeconomic forecasts and the inflation risk premia embodied in financial instruments. We first provide some stylized facts about the term structure of inflation compensation, inflation expectations and inflation risk...
Persistent link: https://www.econbiz.de/10011605208
This paper investigates the link between the perceived inflation risks in macro-economic forecasts and the inflation risk premia embodied in financial instruments. We first provide some stylized facts about the term structure of inflation compensation, inflation expectations and inflation risk...
Persistent link: https://www.econbiz.de/10003971216