G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w0303
来源IDWorking Paper 0303
Towards An Understanding of the Real Effects and Costs of Inflation
Stanley Fischer; Franco Modigliani
发表日期1978-11-01
出版年1978
语种英语
摘要The organization of the paper is simple. We start by examining the real effects of anticipated inflation in an economy that has fully adapted to inflation. In particular, in this economy: (i) public institutions are fully attuned to inflation (or inflation proof), (ii) the same is true of private institutions, (iii) current and future inflation is fully reflected in inherited contracts, and (iv) future inflation is fully reflected in contracts for the future. After we have discussed the effects of anticipated inflation in this environment, we examine the real effects of inflation that arise as the assumptions (i) to (iv) are dropped one after the other. The effects cumulate in the sense that those present in the economy that has fully adapted to inflation are also present in economies with non-inflation proof institutions, and so on.
URLhttps://www.nber.org/papers/w0303
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/557476
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GB/T 7714
Stanley Fischer,Franco Modigliani. Towards An Understanding of the Real Effects and Costs of Inflation. 1978.
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