Abstract
In the G-7 as in almost all the industrialized countries, inflation is now as low as it was during the golden age of 1960-73 (Table 1)1. Thus for many indus trialized countries, the inflation policy question in 1993 is not whether to disinflate, but rather how and how far to preserve the gains of the disinflation of recent years. Some OECD countries, including Germany, Italy, and Spain, still face the challenge of further disinflation, as do formerly medium inflation countries such as Chile, Israel and Mexico.
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Fischer, S. (1994). The Costs and Benefits of Disinflation. In: De Beaufort Wijnholds, J.O., Eijffinger, S.C.W., Hoogduin, L.H. (eds) A Framework for Monetary Stability. Financial and Monetary Policy Studies, vol 27. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-0850-8_4
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DOI: https://doi.org/10.1007/978-94-011-0850-8_4
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