Ascari, Guido; Ropele, Tiziano - Dipartimento di Scienze Economiche e Aziendali, … - 2010
disinflations are less expensive than those under MSR, with theoretical sacrifice ratios averaging 1.0 and 2.8 respectively, and are … accomplished more rapidly. Gradual and anticipated disinflations deliver further lower sacrifice ratios. From a welfare perspective …