Skip to:
  1. Main navigation
  2. Main content
  3. Footer
Working Paper

In Defense of Zero Inflation

An argument supporting zero inflation as the sole objective of monetary policy, with particular emphasis on the Bank of Canada’s commitment to an explicit, low inflation target.

Working Papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views expressed in this paper are those of the authors and do not represent the views of the Federal Reserve Bank of Cleveland or the Federal Reserve System.

Suggested Citation

Gavin, William T. 1990. “In Defense of Zero Inflation.” Federal Reserve Bank of Cleveland, Working Paper No. 90-05.