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What Is An "Acceptable" Rate of Inflation?—A Review of the Issues
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What Is An "Acceptable" Rate of Inflation?—A Review of the Issues (1989)What Is An "Acceptable" Rate of Inflation…The Optimum Quantity of Money (2017)The Optimum Quantity of MoneyShould Governments Learn to Live with Inflation (1989)Should Governments Learn to L…Lessons on Monetary Policy from the 1980s (1988)Lessons on Monetary Policy fr…Inflation And Taxation With Optimizing Governments (1988)Inflation And Taxation With O…Hard Heads, Soft Hearts: Tough-Minded Economics for a Just Society (1988)Hard Heads, Soft Hearts: Toug…On the Marginal Welfare Cost of Taxation (1987)On the Marginal Welfare Cost …Central Bank Behavior and Credibility: Some Recent Theoretical Developments (1986)Central Bank Behavior and Cre…INFLATION IN THE THEORY OF PUBLIC FINANCE (1979)INFLATION IN THE THEORY OF PU…Towards an understanding of the real effects and costs of inflation (1978)Towards an understanding of t…Towards An Understanding of the Real Effects and Costs of Inflation (1978)Towards An Understanding of t…Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule (1977)Long-Term Contracts, Rational…Asset returns and inflation (1977)Asset returns and inflationWage indexation: A macroeconomic approach (1976)Wage indexation: A macroecono…On a Correct Measure of Inflation (1973)On a Correct Measure of Infla…Inflation in the Theory of Public Finance (1973)Inflation in the Theory of Pu…The Optimum Quantity of Money: and Other Essays (1971)The Optimum Quantity of Money…General Equilibrium Computations of the Marginal Welfare Costs of Taxes in the United States.When Can Carbon Abatement Policies Increase Welfare? The Fundamental Role of Distorted Factor Markets (1999)Happiness Quantified (2004)Cost-effective design of agri-environmental payment programs: U.S. experience in theory and practice (2007)A Contribution to the Theory of Taxation (1927)Essays in Positive Economics (1954)Time Consistency of Fiscal and Monetary Policy (1987)Economic and Monetary Union in Europe (1992)Fiscal Policy and Long-Run Growth (1997)Optimal Taxation and Public Production I: Production Eficiency (2016)"Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule (1975)Econometric policy evaluation: A critique (1976)Alternative Explanations of the Money-Income Correlation (1986)Hysteresis and the European Unemployment Problem (1986)Macroeconomic Policy in a Two-Party System as a Repeated Game (1987)The Role of Monetary Policy (1995)The purchasing power of money (1911)Memorials of Alfred Marshall. (1926)Long-term contracting, sticky prices, and monetary policy (1977)Can international monetary policy cooperation be counterproductive? (1985)3. Rules, Discretion, and Reputation in a Model of Monetary Policy (1990)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Expected stock returns and volatility (1987)Efficient Capital Markets: II (1991)On the Relation between the Expected Value and the Volatility of the Nominal Excess Return on Stocks (1993)The Economics of Welfare (1933)A Treatise on Money (1971)Short-Term Fluctuations in U.S. Voting Behavior, 1896–1964 (1971)Inflation: A Survey (1977)ASSET-PRICE BUBBLES AND MONETARY POLICY (1997)Asset price bubbles : the implications for monetary, regulatory, and international policies (2003)Some International Evidence on Output-Inflation Tradeoffs. (1973)COMMON STOCKS AS A HEDGE AGAINST INFLATION (1976)Inflation and the Poor (2000)Do liberalization and globalization increase income inequality? (2010)Policy Uncertainty and Corporate Credit Spreads (2017)Public Debt as Private Liquidity (1990)A Monetary Explanation of the Equity Premium, Term Premium, and Risk-Free Rate Puzzles (1996)Macroeconomic Consequences of Remittances (2008)On the Time Consistency of Optimal Policy in a Monetary Economy (1978)Inflation and Welfare (2000)Learning about monetary policy rules (2002)The Exchange Rate And The Balance of Payments In The Short Run and in The Long Run: A Monetary Approach (1977)Servicing the Public Debt: The Role of Expectations* *I have greatly benefited from comments received at Johns Hopkins University, Georgetown University, the Macro Lunch Group of the University of Pennsylvania, MIT, and the Research Department of the International Monetary Fund. I am particularly indebted to Matt Canzoneri, Sara Guerschanik-Calvo, Joseph Harrington, Jr, Elhanan Helpman, Nissan Leviatan, Maury Obstfeld, Assaf Razin, Sweder van Wijnbergen and two anonymous referees. The research on this paper was partly done while I was a visiting scholar at the Research Department of the Internationed Monetary Fund, and it was partially funded by the National Science Foundation. However, any opinions expressed are entirely my own and not those of any of the above institutions. This paper has already been published in the The American Economic Review, 78, 4, September 1988, pp. 647–661. (1989)When It Rains, It Pours: Procyclical Capital Flows and Macroeconomic Policies (2004)
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References

  • 1977Asset returns and inflation2,701 cited
  • 1977Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule1,946 cited
  • 1971The Optimum Quantity of Money: and Other Essays1,208 cited
  • 1976Wage indexation: A macroeconomic approach746 cited
  • 2017The Optimum Quantity of Money562 cited
  • 1987On the Marginal Welfare Cost of Taxation460 cited
  • 1973Inflation in the Theory of Public Finance410 cited
  • 1978Towards an understanding of the real effects and costs of inflation351 cited
  • 1979INFLATION IN THE THEORY OF PUBLIC FINANCE336 cited
  • 1973On a Correct Measure of Inflation251 cited
  • 1988Lessons on Monetary Policy from the 1980s147 cited
  • 1988Inflation And Taxation With Optimizing Governments101 cited
  • 1989Should Governments Learn to Live with Inflation100 cited
  • 1978Towards An Understanding of the Real Effects and Costs of Inflation98 cited
  • 1986Central Bank Behavior and Credibility: Some Recent Theoretical Developments96 cited
  • 1988Hard Heads, Soft Hearts: Tough-Minded Economics for a Just Society

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