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Published in:
1993 | OriginalPaper | Chapter
Lessons from Moderate Inflations
Author : Stanley Fischer
Published in: Price Stabilization in the 1990s
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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Few topics have sustained the interest of policymakers and economists as long and as intensively as inflation. There is no mystery about why: it is the ‘almost unbroken chronicle in every country which has a history, back to the earliest dawn of economic record, of a progressive deterioration in the real value of the successive legal tenders which have represented money’ (Keynes, 1923, p. 63).