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Traditional inflation theories by Ahmed Alouani

Traditional inflation theories

by Ahmed Alouani
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Book cover type: Paperback
  • ISBN13: 9786209510359
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Our Knowledge Publishing
  • Publisher Imprint: Our Knowledge Publishing
  • Publication Date:
  • Pages: 60
  • Original Price: GBP 38.19
  • Language: English
  • Edition: N/A
  • Item Weight: 96 grams
  • BISAC Subject(s): General

The text traces the evolution of the main theories explaining inflation. Four historical approaches are distinguished: the monetary explanation, inflation by costs, inflation by excess demand and the structural and institutional approach developed by heterodox currents. Keynesianism initially combined cost and demand explanations, before monetaro-Keynesianism integrated money as the central factor in excess demand.To the right of the mainstream, monetarists and rational expectations theorists see inflation as a strictly monetary phenomenon, based on the neutrality of money and its exogenous nature, controlled by the monetary authorities.To the left of the mainstream, post-Keynesians and the regulation school analyze inflation as a structural and institutional phenomenon linked to the functioning of capitalism. They defend an endogenous conception of money and oppose monetarism, taking the monetary economy of production as their starting point.

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