Theories of Policy Accommodation : The Persistence of Inflation and Gradual Stabilizations

The Persistence of Inflation and Gradual Stabilizations

Theories of Policy Accommodation : The Persistence of Inflation and Gradual Stabilizations
Persistent inflation and slow stabilization are usually the result of policy accommodation resorted to in an attempt to avoid the recessionary costs of a sharp reduction of inflation. This paper reviews three explanations for why policymakers, despite their dislike of inflation, may nevertheless choose to adopt accommodative policies. It... READ MORE...

Publication date: March 1992
ISBN 9781451843699
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