The case for price stability

Reasoning within the New Neoclassical Synthesis (NNS) we previously recommended that price stability should be the primary objective of monetary policy. We called this a neutral policy because it keeps output at its potential, defined as the outcome of an imperfectly competitive real business cycle...

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Bibliographic Details

Main Authors:	Goodfriend, Marvin (Author), King, Robert G. (Author)
Format:	Book
Language:	English
Published:	Cambridge National Bureau of Economic Research 2001.
Series:	NBER working paper series no. 8423
Subjects:	Price maintenance > United States. Monetary policy > United States. Inflation (Finance).
Online Access:	Download full text here