Discussion Paper Details

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Title: Monetary Policy and Inflation: From Theory to Practice

Author(s): José Viñals

Publication Date: March 1998

Keyword(s): costs of inflation, Inflation, Monetary Policy and strategy

Programme Area(s): International Macroeconomics

Abstract: This paper addresses a number of questions which are essential to a proper understanding of the causes and effects of the inflationary process and to an assessment of the contribution of monetary policy to the achievement of long-term price stability. These questions are: (1) what are the economic costs of inflation? (2) what part does monetary policy play in the short- and medium-term evolution of inflation? (3) what are the most appropriate monetary policy strategies for fighting inflation?

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Bibliographic Reference

Viñals, J. 1998. 'Monetary Policy and Inflation: From Theory to Practice'. London, Centre for Economic Policy Research.