Costs and Benefits of Price Stability: An Assessment of Howitt's Rule

Resource Type
Dataset : survey data
  • Thornton, Daniel L. (Federal Reserve Bank of St. Louis)
Other Title
  • Version 1 (Subtitle)
Publication Date
Free Keywords
cost effectiveness; economic growth rate; inflation; price fluctuations; price trends
  • Abstract

    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.
  • Table of Contents


    • DS1: Dataset
Geographic Coverage
  • United States
Collection Mode
  • (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.

This study is freely available to the general public via web download.
Alternative Identifiers
  • 1159 (Type: ICPSR Study Number)
  • Thornton, Daniel L.. The costs and benefits fo price stability: An assessment of Howitt's Rule. Federal Reserve Bank of St. Louis Review.78, (2), 23-38.1996.

Update Metadata: 2015-08-05 | Issue Number: 6 | Registration Date: 2015-06-15