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Price Stability and the Swedish Monetary Experiment


During the last two decades, the consumer price index has more than tripled. This article examines the feasibility and appropriateness of establishing a direct, price-index target as the primary objective of U.S. monetary policy, and notes the results of the Swedish Riksbank's experiment with such an approach during the 1930s.

During the last two decades, the consumer price index has more than tripled. This article examines the feasibility and appropriateness of establishing a direct, price-index target as the primary objective of U.S. monetary policy, and notes the results of the Swedish Riksbank's experiment with such an approach during the 1930s.


Suggested citation: Black, Susan, and William T. Gavin, 1990. "Inflation and Growth: Price Stability and the Swedish Monetary Experiment," Federal Reserve Bank of Cleveland, Economic Commentary, 12.15.1990.

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