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The Case for Zero Inflation

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The authors argue that a monetary policy of zero inflation would benefit society by eliminating price distortion, increasing economic growth, adding liquidity to the economy, and reducing uncertainty associated with price-level drift.

The authors argue that a monetary policy of zero inflation would benefit society by eliminating price distortion, increasing economic growth, adding liquidity to the economy, and reducing uncertainty associated with price-level drift.


Suggested citation: Gavin, William T., and Alan C. Stockman, 1988. "The Case for Zero Inflation," Federal Reserve Bank of Cleveland, Economic Commentary, 09.15.1988.

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