Costs and Benefits of Price Stability: An Assessment of Howitt's Rule (ICPSR 1159)

Published: Aug 27, 1998 View help for published

Principal Investigator(s): View help for Principal Investigator(s)
Daniel L. Thornton, Federal Reserve Bank of St. Louis

https://doi.org/10.3886/ICPSR01159.v1

Version V1

Assuming inflation affects both the level and growth rate of output, the author states Howitt's Rule and explains how it argues for a continued policy of moderate inflation. Next, alternative estimates of the costs of achieving price stability are analyzed, and then those costs are compared with estimates of the gain from achieving price stability when inflation reduces the level or growth rate of output. Finally, the cross-section and time-series evidence on the effects of inflation on output growth is reviewed.

Thornton, Daniel L. Costs and Benefits of Price Stability:  An Assessment of Howitt’s Rule. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 1998-08-27. https://doi.org/10.3886/ICPSR01159.v1

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Inter-university Consortium for Political and Social Research

(1) The file submitted, MA96DT.EXE, unzips to MA96PMG.DT, which contains the programs for all the figures and tables, and MA96DATA.DT, which contains the data for all the figures and tables. Also included in MA96DT.EXE are other files, APPEND.DAT, APPEND.DHT, AS.GCG, PVL.FMT and PVL.WK1. (2) These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.

1998-08-27

1998-08-27

2018-02-15 The citation of this study may have changed due to the new version control system that has been implemented. The previous citation was:
  • Thornton, Daniel L. Costs and Benefits of Price Stability: An Assessment of Howitt's Rule. ICPSR01159-v1. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 1998-08-27. http://doi.org/10.3886/ICPSR01159.v1

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  • These data are flagged as replication datasets and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.

  • The public-use data files in this collection are available for access by the general public. Access does not require affiliation with an ICPSR member institution.

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