Inflation in North America

Michael Parkin · Ralph C. Bryant · Paul Jenkins

33 citations0/0 files storedPalgrave Macmillan UK eBooks

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Monetary Policy and Economic Impact Economic Theory and Policy Economic theories and models

Abstract

The past quarter century has seen inflation in North America accelerate and recede, and has seen our stock of knowledge about inflation steadily accumulate. 1 The combination of these two events has transformed our attitudes toward inflation and led us to the point at which we now dare to plan for and talk of achieving zero inflation. A central purpose of this chapter is to evaluate the possibility of achieving and maintaining zero inflation in the United States and Canada in the decade ahead. It begins by reviewing the inflation record of the two countries, looking both at their separate performances and their inflation differential. This review highlights the questions that must be answered if zero inflation is to be a possibility. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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References

1977Rules Rather than Discretion: The Inconsistency of Optimal Plans 1983Oil and the Macroeconomy since World War II 1983Rules, discretion and reputation in a model of monetary policy 1983A Positive Theory of Monetary Policy in a Natural Rate Model 1981A Positive Theory of Monetary Policy in a Natural-Rate Model 1993Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence 1992Gross Job Creation, Gross Job Destruction, and Employment Reallocation 1986A Theory of Ambiguity, Credibility, and Inflation under Discretion and Asymmetric Information

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1999Chapter 22 Political economics and macroeconomic policy 2003What Starts Inflation: Evidence from the OECD Countries 2004Shocks and Government Beliefs: The Rise and Fall of American Inflation 2002A Half-Century of Changes in Monetary Policy 2004Poor Hand or Poor Play? the Rise and Fall of Inflation in the U.S 2006Shocks and Government Beliefs: The Rise and Fall of American Inflation

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