Discussion paper

DP1821 Monetary Policy and Inflation: From Theory to Practice

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?


Viñals, J (1998), “DP1821 Monetary Policy and Inflation: From Theory to Practice”, CEPR Press Discussion Paper No. 1821. https://new.cepr.org/publications/dp1821