Journal Article
Why a rule for stable prices may dominate a rule for zero inflation
Abstract: An analysis of how a rule for monetary policy specifying a stable price level may dominate a rule for zero inflation with price-level drift, even in the case where, for purely economic reasons, an inflation rule is preferred.
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https://fraser.stlouisfed.org/title/economic-review-federal-reserve-bank-cleveland-1328/1991-quarter-1-4497?page=3
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Review
Publication Date: 1991
Volume: 27
Issue: Q I
Pages: 2-8