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Preface Introduction by Martin Feldstein 1. Capital Income Taxes and theBenefit of Price Stability Martin Feldstein 2. Price Stability versus LowInflation in Germany: An Analysis of Costs and Benefits Karl-Heinz Todterand Gerhard Ziebarth 3. A Cost-Benefit Analysis of Going from Low Inflationto Price Stability in Spain Juan J. Dolado, Jose M. Gonzalez-Paramo, andJose Vinals 4. Some Costs and Benefits of Price Stability in the UnitedKingdom Hasan Bakhshi, Andrew G. Haldane, and Neal Hatch Comment (on chaps.2, 3, and 4): Andrew B. Abel Comment (on chaps. 2, 3, and 4): RudigerDornbusch 5. Inflation and the User Cost of Capital: Does Inflation StillMatter? Darrel Cohen, Kevin A. Hassett, and R. Glenn Hubbard Comment: AlanJ. Auerbach Discussion Summary 6. Excess Capital Flows and the Burden ofInflation in Open Economies Mihir A. Desai and James R. Hines, Jr. Comment:Jeffrey A. Frankel Discussion Summary 7. Identifying Inflation's Grease andSand Effects in the Labor Market Erica L. Groshen and Mark E. SchweitzerComment: Laurence Ball Discussion Summary 8. Does Inflation Harm EconomicGrowth? Evidence from the OECD Javier Andres and Ignacio Hernando Comment:Frederic S. Mishkin Discussion Summary Contributors Author Index SubjectIndex ??