@techreport{NBERw3555,
 title = "Credible Disinflation with Staggered Price Setting",
 author = "Laurence Ball",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "3555",
 year = "1990",
 month = "December",
 URL = "http://www.nber.org/papers/w3555",
 abstract = {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.},
}