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Journal Article

An ebbing tide lowers all boats: monetary policy, inflation, and social justice


Abstract: An argument that attempting to alleviate the burden of unemployment on the less affluent through expansionary monetary policy may hurt the clientele it is supposed to serve if, ultimately, the policy leads to higher long-run rates of inflation.

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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Review

Publication Date: 1992

Volume: 28

Issue: Q II

Pages: 14-22