English, Article, Journal or magazine article edition: Why Does High Inflation Raise Inflation Uncertainty? Laurence Ball

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Bookmark: http://trove.nla.gov.au/version/140874
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Why Does High Inflation Raise Inflation Uncertainty?
Author
  • Laurence Ball
Physical Description
  • preprint
Notes
  • This paper presents a model of monetary policy in which a rise in inflation raises uncertainty about future inflation. When inflation is low, there is a consensus that the monetary authority will try to keep it low. When inflation is high, policyniakers face a dilemma: they would like to disinflate, but fear the recession that would result. The public does not know the tastes of future policymakers, and thus does not know whether disinflation will occur.
  • RePEc:nbr:nberwo:3224
Language
  • English
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