3. The Costs and Benefits of Going from Low Inflation to Price Stability

Chapters in this book

1. Frontmatter i
2. National Bureau of Economic Research v
3. Relation of the Directors to the Work and Publications of the National Bureau of Economic Research vi
4. Contents vii
5. Acknowledgments ix
6. Introduction 1
7. I. The Effects of Inflation
8. 1. Why Do People Dislike Inflation? 13
9. 2. Does Inflation “Grease the Wheels of the Labor Market”? 71
10. 3. The Costs and Benefits of Going from Low Inflation to Price Stability 123
11. 4. Disinflation and the NAIRU 167
12. II. Improving the Conduct of Monetary Policy
13. 5. How Precise Are Estimates of the Natural Rate of Unemployment? 195
14. 6. America’s Peacetime Inflation: The 1970s 247
15. 7. Do “Shortages” Cause Inflation? 281
16. III. The Contribution of Monetary Institutions
17. 8. Institutions for Monetary Stability 307
18. 9. Why Does Inflation Differ across Countries? 335
19. 10. How the Bundesbank Conducts Monetary Policy 363
20. Contributors 413
21. Author Index 415
22. Subject Index 419