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In recent years, the Federal Reserve and central banks worldwide have enjoyed remarkable success in their battle against inflation. The challenge now confronting the Fed and its counterparts is how to proceed in this newly benign economic environment: Should monetary policy seek to maintain a rate of low-level inflation or eliminate inflation altogether in an effort to attain full price stability? In a seminal article published in 1997, Martin Feldstein developed a framework for calculating the gains in economic welfare that might result from a move from a low level of inflation to full price stability. The present volume extends that analysis, focusing on the likely costs and benefits of achieving price stability not only in the United States, but in Germany, Spain, and the United Kingdom as well. The results show that even small changes in already low inflation rates can have a substantial impact on the economic performance of different countries, and that variations in national tax rules can affect the level of gain from disinflation.

Economic policy and planning (general) --- Prices --- Monetary policy --- Inflation (Finance) --- Price regulation --- Congresses --- Government policy --- politique economique --- politique des prix --- inflation --- impot sur le capital --- politique fiscale --- international --- AA / International- internationaal --- DE / Germany - Duitsland - Allemagne --- ES / Spain - Spanje - Espagne --- GB / United Kingdom - Verenigd Koninkrijk - Royaume Uni --- US / United States of America - USA - Verenigde Staten - Etats Unis --- 333.841 --- 380.3 --- 333.846.2 --- NBB congres --- -Price regulation --- -Monetary policy --- -Inflation (Finance) --- -338.526 --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Government price control --- Government price regulation --- Price control --- Price stabilization, Governmental --- Pricing --- Regulation of prices --- Trade regulation --- Anti-inflationary policies --- Commercial products --- Commodity prices --- Justum pretium --- Price theory --- Consumption (Economics) --- Cost --- Costs, Industrial --- Money --- Cost and standard of living --- Supply and demand --- Value --- Wages --- Willingness to pay --- economisch beleid --- prijsbeleid --- inflatie --- vermogensbelasting --- fiscaal beleid --- internationaal --- Inflatie. --- Prijsbeleid. --- Verband tussen de geld-, bank- en kredietpolitiek en de prijzen. --- -Law and legislation --- Law and legislation --- Congresses. --- -politique economique --- Government policy&delete& --- Precios --- Política y gobierno --- Congresos, conferencias, etc. --- Regulación de los precios --- Inflacción (Finanzas) --- Política monetaria --- E-books --- 338.526 --- Inflatie --- Verband tussen de geld-, bank- en kredietpolitiek en de prijzen --- Prijsbeleid --- Inflation (finance) --- Monetary policy - Congresses --- Inflation (Finance) - Congresses --- Price regulation - Congresses --- Prices - Government policy - Congresses --- federal reserve, bank, banking, banker, international, global, inflation, fed, economic, economy, economics, price, low level, rate, article, 1990s, contemporary, modern, 20th century, gains, welfare, united states, germany, spain, uk, america, tax, taxes, capital, income, cost, benefit, analysis, essay collection, textbook, academic, scholarly, research, college, university.