Federal Reserve Bank of Cleveland
Uncertain inflation and price-level rules
An analysis of the sources and costs of unpredictable inflation, finding that the uncertainty stems from a lack of appropriate constraints on the monetary policy process, and that the costs could be sharply reduced by adopting a policy that targets a long-run path for the price level.
Cite this item
Jeffrey J. Hallman, "Uncertain inflation and price-level rules"
, Federal Reserve Bank of Cleveland, Economic Commentary, issue Jan, 1992.
Keywords: Inflation (Finance) ; Prices
This item with handle RePEc:fip:fedcec:y:1992:i:jan15
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