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Working Paper

Zero inflation: transition costs and shoe-leather benefits


Abstract: A comparison showing that the transition costs of indexing inflation (a major obstacle to monetary policy reform) are approximately equal to the minor shoe-leather benefits of having price stability.

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File(s): File format is application/pdf https://fraser.stlouisfed.org/title/working-paper-federal-reserve-bank-cleveland-4494/zero-inflation-494559
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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Working Papers (Old Series)

Publication Date: 1991

Number: 9113