TY  - JOUR
AU  - Ball,Laurence
TI  - The Genesis of Inflation and the Costs of Disinflation
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 3621
PY  - 1991
Y2  - February 1991
UR  - http://www.nber.org/papers/w3621
L1  - http://www.nber.org/papers/w3621.pdf
N1  - Author contact info:
Laurence M. Ball
Department of Economics
Johns Hopkins University
Baltimore, MD 21218
Tel: 410/516-7605
Fax: 410/516-7600
E-Mail: lball@jhu.edu
AB  - This essay asks how high inflation arises and why it is costly to eliminate. Specifically, the paper discusses the roles of price rigidity and credibility problems in explaining the costs of disinflation; the puzzle of persistent inflation triggered by onetime macroeconomic shocks; and the case for returning to adaptive expectations in theories of inflation.
ER  -