NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Credible Disinflation with Staggered Price Setting

Laurence Ball

NBER Working Paper No. 3555
Issued in December 1990
NBER Program(s):   EFG

This paper determines the real effects of credible disinflation when price setting is staggered. The results are surprising: a fairly quick disinflation causes a boom. This finding suggests that nominal price rigidity alone does not explain why disinflation is costly in actual economies.

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Document Object Identifier (DOI): 10.3386/w3555

Published: American Economic Review, March 1994 citation courtesy of

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