文章基本信息

标题：A Land Locked Into Low Inflation – How Far is the Promised Land?
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作者：Anis Chowdhury ; Girijasankar Mallik
期刊名称：Economic Analysis and Policy
印刷版ISSN：0313-5926
出版年度：1998
卷号：28
期号：2
页码：233-244
DOI：10.1016/S0313-5926(98)50021-5
出版社：Elsevier B.V.
摘要：Abstract Since the mid-1970s, inflation has been identified as the number one macroeconomic problem in Australia, and “fight inflation first” has become the cornerstone of macroeconomic policy mix. The present government has come close to the {NZ} stance of having legislated a “zero or low” inflation target for the Reserve Bank. This policy stance has been largely successful in bringing both actual and expected inflation down. The fight against inflation has obviously left many casualties – the unemployed. There will, however, be a net gain if the promised productivity growth eventuates. This paper finds that the promised relationship between inflation and productivity growth is either missing or fragile.