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The Benefits of Low Inflation

其他書名	Taking Stock
出版	Bank of Canada, 1998
ISBN	06622683939780662268390
URL	http://books.google.com.hk/books?id=Zu1aAAAAYAAJ&hl=&source=gbs_api

註釋This paper surveys the empirical literature on the benefits of low inflation, emphasizing contributions since 1990. It follows a framework that examines the costs of inflation, or the benefits of price stability, in the context of four themes: inflation creates uncertainty about the future; there are costs of having to cope with inflation; inflation affects equity and fairness; and living with inflation is no answer. The section on each theme begins with a brief summary of points raised in the Bank of Canada's 1990 annual report, where that framework was presented. The empirical literature is reviewed extensively enough to establish a context. This is followed by discussion of those benefits of low inflation that have been quantified in the literature and those that have not; how the literature on the issue has advanced since 1990; and what areas might benefit from more research in the future.