Hidden Bibliographic Details
| Other authors / contributors: | Masson, Paul R., author.
Meredith, Guy, author.
International Monetary Fund. Research Department, issuing body.
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| ISBN: | 1455261513
9781455261512
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| Notes: | Includes bibliographical references (pages 29-31).
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | This paper focuses on the output costs of disinflation. a model of inflation with both forward and backward elements seems to characterize reality. Such an inflation model is estimated using data for industrial countries, and the output costs of a disinflation path are calculated, first analytically in a simple theoretical model, then by simulation of a global, multi-region empirical model. the credibility of a preannounced path for money consistent with the lowest output loss is considered. An alternative, more credible policy may be to announce an exchange rate peg to a low inflation currency.
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| Other form: | Print version: Chadha, Bankim. Models of inflation and the costs of disinflation. [Washington, D.C.?] : International Monetary Fund, Research Dept., 1991
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