This book explores the causes, costs and benefits of inflation. It argues that while the cause of inflation is essentially monetary, the costs and benefits of inflation lie in inflation's distortion of the economy's responses to real shocks. The book begins by securing the Quantity Theory of Money from certain critiques. The theory is defended from the 'fiscal theory of the price level' by a refinement of the theory of money demand, and from post Keynesianism by the construction of a theory of... Celý popis
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Popis
This book explores the causes, costs and benefits of inflation. It argues that while the cause of inflation is essentially monetary, the costs and benefits of inflation lie in inflation's distortion of the economy's responses to real shocks. The book begins by securing the Quantity Theory of Money from certain critiques.
The theory is defended from the 'fiscal theory of the price level' by a refinement of the theory of money demand, and from post Keynesianism by the construction of a theory of the supply of inside money. To cope with the endogeneity of outside money, a simple and tra
The theory is defended from the 'fiscal theory of the price level' by a refinement of the theory of money demand, and from post Keynesianism by the construction of a theory of the supply of inside money. To cope with the endogeneity of outside money, a simple and tra
Parametry
| Rok vydání | 2009 |
| Autor | William Oliver Coleman |
| Počet stran | 272 |
| Výrobce | Edward Elgar |
| Jazyk | anglické |
