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http://hdl.handle.net/10016/6036
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| we974018.PDF | -- 2009-12-14 -- Available on Internet -- preprint | 2,6 MB | Adobe PDF | |  |
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| Title: | A cost-benefit analysis of going from low inflation to price stability in Spain |
| Author(s): | Dolado, Juan José [dolado]
González-Páramo, José Manuel
Viñals, José |
| Publisher: | Universidad Carlos III de Madrid. Departamento de Economía |
| Issued date: | May-1997 |
| URI: | http://hdl.handle.net/10016/6036 |
| Abstract: | This paper performs a cost-benefit analysis of moving from low inflation (roughly 3.5 percent) to price stability (about 1.5 percent) in Spain. Estimates of the costs (in terms of output losses) and the benefits (resulting from lower distortions in the tax system) are compared and evaluated. According to our results, going from low inflation to price stability in Spain seems a worthy enterprise, yielding an expected net beneficial permanent effect of about 0.7-1.0 percentage points of GDP per year in the more reasonable scenarios. |
| Serie / Nº.: | UC3M Working papers. Economics
1997-40-18 |
| Keywords: | Sacrifice ratio
Deadweight loss
Capital income taxes |
| Appears in Collections: | DE - Working Papers. Economics. WE
Economists Online
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