The long-run relation between growth and inflation has not yet been studied in the context of nominal price and wage … integrate staggered price- and wage-setting into an endogenous growth framework. In this setting, growth and inflation are … linked via the incentive to innovate. For standard calibrations, the linkage is strong: as trend inflation shifts from -5 to …

): "lf the true and fully anticipated rate of inflation has stabilized at a low level, i.e. two per cent, is the gain from … reducing inflation to zero worth the sacrifice in output and employment that would be required to achieve it?" ... …

untersucht: "If the true and fully anticipated rate of inflation has stabilized at a low level, i.e. two per cent, is the gain … from reducing inflation to zero worth the sacrifice in output and employment that would be required to achieve it?" ... …): "If the true and fully anticipated rate of inflation has stabilized at a low level, i.e. two per cent, is the gain from …

calculating the gain from price stability, the paper emphasizes the distortions caused by the interaction of inflation and capital … income taxes. Because inflation exacerbates the tax distortions that would exist even with price stability, the annual … deadweight loss of a two percent inflation rate is a surprisingly large one percent of GDP. Since the real gain from shifting to …

This paper analyses how the output or unemployment cost of achieving a sustainable reduction in the rate of inflation … ratio. Without sluggishness in the core inflation rate, a zero sacrifice ratio can be achieved simply through intelligent … demand management. With sluggish core inflation, the sacrifice ratio is positive unless intelligent demand management is …

In a previous attempt to articulate the costs of inflation (Leigh-Pemberton (1992)), the Bank of England outlined the … following costs of a fully-anticipated inflation: - the cost of economising on real money balances -- so-called shoe … these costs when moving from 2% inflation to price stability in the U.S. Feldstein concluded that the permanent welfare …

In a previous attempt to articulate the costs of inflation (Leigh-Pemberton (1992)), the Bank of England outlined the … following costs of a fully-anticipated inflation: - the cost of economising on real money balances -- so-called shoe … these costs when moving from 2% inflation to price stability in the U.S. Feldstein concluded that the permanent welfare …

calculating the gain from price stability, the paper emphasizes the distortions caused by the interaction of inflation and capital … income taxes. Because inflation exacerbates the tax distortions that would exist even with price stability, the annual … deadweight loss of a two percent inflation rate is a surprisingly large one percent of GDP. Since the real gain from shifting to …

In a previous attempt to articulate the costs of inflation (Leigh-Pemberton (1992)), the Bank of England outlined the … following costs of a fully-anticipated inflation: - the cost of economising on real money balances -- so-called shoe … these costs when moving from 2% inflation to price stability in the U.S. Feldstein concluded that the permanent welfare …

We study how within-store price variation changes with inflation, and whether households exploit it to attenuate the … inflation burden. We use micro price data for food products sold by 91 large multi-channel retailers in 10 countries between … discounts grew at a much lower average rate than regular prices, helping to mitigate the inflation burden. By contrast …